Professor Axel Leijonhufvud passed away few months ago, at the age of 89. Despite the fact that the contribution he made to economics has been widely recognized, his approach remains 'problematic' because of his dialogue and proximity with different streams of thought, and in particular with the...

A robust and critical post-Keynesianism can be specified on the basis of time, uncertainty, and the investigation of the institutions that structure material life, without presupposing what those institutions are. This paper criticises the inclusion in influential presentations of the axiomatic...

Was the Keynesian message alive during the second half of the XXth Century, or was it betrayed by his followers? This article in the fields of the history of economic thought and methodology contrasts the Scientific Research Programmes (SRPs), a Lakatosian concept, of Keynes in The General...

The thesis of this paper is that Keynes wrote A Treatise on Probability contrasting his view to the frequentist theory, systematised by John Venn, which denied to probability any sort of utility in decision theory. Keynes's problem was of finding an alternative theory to be utilised as a guide...

Unlike standard accounts, recent research in the history of macroeconomics has given increasing attention to the Old Keynesians’ criticisms of the New Classical Economics. In this paper, I address the case of Edmond Malinvaud, who began opposing the latter from the early 1980s and did so...

This paper discusses Joan Robinson’s remarks on the importance of historical time in economic analysis. On the one hand, Joan Robinson expressed skepticism with equilibrium analysis as such, arguing that as soon as economists take into account the uncertainty of expectations, history needs to...

Keynes was adamant that the assumption of homogeneous output and capital in macroeconomic theory is inadmissable. His aggregate supply or Z function is a generalisation of Marshall's ordinary supply function to take account of heterogeneous output, and is an essential element of the principle of...

Keynes’ ‘fallacy of composition’ and, later, the ‘Santa Fe perspective’ have shown that the economy may be defined as a “complex adaptive system”, since it is not something given but results from constantly developing interactions among heterogeneous individuals. Endorsing the...

This paper discusses the following two hypotheses. The first one is based on the epistemological proposal which we have named the principle of discontinuity. It asserts that certain developments in the history of economic thought involve theoretical breaks which can only be fully explained by...

In 1987, Greenwald and Stiglitz accused Keynes's summary of the "General Theory" in chapter 18 of relying upon “neoclassical and Marshallian tools.” A number of contributions have on the contrary emphasized the methodological importance of this chapter, which this paper revisits in the light...