Palgrave Studies in the History of Economic Thought

Keynes on Uncertainty and Tragic Happiness

Complexity and Expectations

Authors: Carabelli, Anna M.

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  • Provides rare insight into the philosophical foundations of Keynes’ work
  • Highlights commonality within different periods of Keynes’ career
  • Explores the ideas that influenced Keynes’ writing and economic theories
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  • ISBN 978-3-030-75665-9
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About this book

Most economists who read the General Theory candidly admitted that they could not understand the theoretical apparatus and found it easy to recast it in traditional terms. This book provides a masterful guide to the generally unrecognized methodological revolution that supported the new theoretical concepts -- a veritable lodestone that complements and expands understanding on the treatment of the economic magnitudes appropriate to the ideal of generality in the social sciences, to the applicability  of probability, to the formulation of decision-making under uncertainty, and the foundations of economic policy in interdependent economic systems.                                                                                      _Jan Kregel, Levy  Economics Institute

Anna Carabelli sets out Keynes’s understanding of economics as a way of thinking, encompassing method and morals, rather than as a doctrine. She does so with her customary admirable scholarship and also her willingness to take controversial positions. I commend the volume most highly to Keynes scholars as a drawing-together and development of the themes that Carabelli has pursued since the publication of her 1988 classic, On Keynes’s Method. Further Keynes’s approach was designed to be applied to different contexts, so I enthusiastically recommend the volume also as a foundation and guide for anyone open to such a ‘new way of reasoning in economics’ for the modern era.        _Sheila Dow, University of Stirling 

This book examines the philosophy and methodology of Keynes, highlighting its novelty and how it presented a new form of economic reasoning. Exploring Keynes’s use of non-demonstrative logic, based on probability, commonalities are found in his economics, ethics, aesthetics, and international relations. Insights are provided into his reasoning and his approach to uncertainty, rationality, measurability of complex magnitudes, moral and rational dilemmas, and irreducible conflicts.

This book investigates methodological continuity within Keynes’s work, in particular in relation to uncertainty, complexity, incommensurability, happiness and openness. It will be relevant to students and researchers interested in Keynes, probability, ambiguity, ethics and the history of economic thought.

About the authors

Anna M. Carabelli is Professor of Political Economy at the University of Eastern Piedmont, Italy.

Table of contents (9 chapters)

Table of contents (9 chapters)
  • Introduction

    Pages 1-12

    Carabelli, Anna M.

  • Rationality as Reasonableness: Probability

    Pages 13-30

    Carabelli, Anna M.

  • Complexity and Incommensurability: Multidimensional, Heterogeneous and Interdependent Magnitudes. Probability and Economic Magnitudes

    Pages 31-73

    Carabelli, Anna M.

  • Keynes’s Methodology of Criticism: Probability and Classical Economic Theory. Logical Fallacies: The Introduction of the Tacit Assumptions of Homogeneity and Independence

    Pages 75-96

    Carabelli, Anna M.

  • Uncertainty as the Legacy of Greek Tragedy: Uncertainty as Tragic Choice

    Pages 97-108

    Carabelli, Anna M.

Buy this book

eBook 46,00 €
price for Spain (gross)
  • ISBN 978-3-030-75665-9
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 57,19 €
price for Spain (gross)
  • ISBN 978-3-030-75664-2
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Keynes on Uncertainty and Tragic Happiness
Book Subtitle
Complexity and Expectations
Authors
Series Title
Palgrave Studies in the History of Economic Thought
Copyright
2021
Publisher
Palgrave Macmillan
Copyright Holder
The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-75665-9
DOI
10.1007/978-3-030-75665-9
Hardcover ISBN
978-3-030-75664-2
Series ISSN
2662-6578
Edition Number
1
Number of Pages
VII, 182
Number of Illustrations
2 b/w illustrations, 1 illustrations in colour
Topics