This paper considers the confusion generated by the interpretations of Keynes's GENERAL THEORY. Drawing on the study of hermeneutics, it is argued that much of the confusion is caused by the adoption of presuppositions, often implicitly, about the nature of interpretation. Another contributory...

Mainstream interpretations of John Maynard Keynes's General Theory are surveyed. An alternative postclassical interpretation is proposed. Keynes is interpreted as treating classical theory as the valid theory of allocation but this type of theory is of limited relevance for macroanalysis. The...