{"title":"General Theorizing and Historical Specificity in the 'Keynes Versus the Classics' Dispute.","authors":"Teodoro Dario Togati","doi":"10.1057/s41302-020-00177-1","DOIUrl":null,"url":null,"abstract":"<p><p>This paper addresses the issues of general theorizing and historical specificity in the 'Keynes versus the Classics' dispute and puts forward two main arguments. First, the current macroeconomic orthodoxy wins the 'relative' generality contest because it implies that institutions influence outcomes, such as the natural rate of unemployment, in contrast with Keynes's 'internalist' approach, which neglects historical specificity. Secondly, mainstream macro is not truly general in an 'absolute' sense since it only makes sense under very special real-world institutional conditions.</p>","PeriodicalId":45363,"journal":{"name":"Eastern Economic Journal","volume":" ","pages":"273-294"},"PeriodicalIF":0.5000,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1057/s41302-020-00177-1","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Eastern Economic Journal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1057/s41302-020-00177-1","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2020/10/6 0:00:00","PubModel":"Epub","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 2
Abstract
This paper addresses the issues of general theorizing and historical specificity in the 'Keynes versus the Classics' dispute and puts forward two main arguments. First, the current macroeconomic orthodoxy wins the 'relative' generality contest because it implies that institutions influence outcomes, such as the natural rate of unemployment, in contrast with Keynes's 'internalist' approach, which neglects historical specificity. Secondly, mainstream macro is not truly general in an 'absolute' sense since it only makes sense under very special real-world institutional conditions.
期刊介绍：
The Eastern Economic Journal, a quarterly publication of the Eastern Economic Association, was established in 1973. The EEJ publishes papers written from every perspective, in all areas of economics and is committed to free and open intellectual inquiry from diverse philosophical perspectives. It welcomes manuscripts that are methodological and philosophical as well as empirical and theoretical. Readability and general interest are major factors in publication decision.
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