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This book investigates the fundamental incompatibility between Keynesian economics and the neoclassical synthesis by framing their differences through the lens of Newtonian versus Einsteinian scientific paradigms. Teodoro Dario Togati, an expert in the history of economic thought, argues that the neoclassical synthesis attempts to force Keynesian insights into a static, equilibrium-based Newtonian framework. He posits that a true understanding of Keynes requires a shift toward a more dynamic, relativistic approach akin to Einsteinian physics, which accounts for uncertainty and historical time.
What You Will Find
Experts in the history of economic thought recognize this text as a rigorous critique of how Keynesian theory was formalized in the mid-twentieth century. Readers frequently note the academic density of the prose, which requires a strong background in both economic theory and the philosophy of science to fully appreciate the author's arguments.
Page Count:
0
Publication Date:
1998-01-01
Publisher:
Routledge
ISBN-10:
0203273516
ISBN-13:
9780203273517
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