Some interpretations restrict the applicability of the General Theory to modern capitalism because of the financial institutions assumed by Keynes. Although acknowledging some evidence in support of these interpretations, the paper argues that Keynes also developed the fundamental elements of a...

Purpose – This paper comments on Theodore Koutsobinas's recent contribution to the debate on the formation of expectations in situations of strong uncertainty. Design/methodology/approach – The set of comments focuses not on doctrinal-historical issues, but on Koutsobinas's theoretical...

When discussing the relation between rationality and conventions under non-neoclassical uncertainty, almost all economists focus on the rationality of following a convention. This paper contributes to the construction of an alternative approach, which argues that conventions and rationality are...