Joan Robinson’s historical time and the current state of post-Keynesian growth theory

IF 2 2区 经济学 Q2 ECONOMICS Cambridge Journal of Economics Pub Date : 2023-08-24 DOI:10.1093/cje/bead028
Ettore Gallo, M. Setterfield
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Abstract

This paper discusses Joan Robinson’s remarks on the importance of historical time in economic analysis. On the one hand, Joan Robinson expressed skepticism with equilibrium analysis as such, arguing that as soon as economists take into account the uncertainty of expectations, history needs to replace equilibrium. On the other hand, Robinson stressed that, while building economic models, one must be aware that it is historical time rather than logical time that rules reality, warning against the methodological mistake of confusing comparisons of equilibrium positions with a movement between them. We argue that these criticisms point to the possibility of thinking in terms of two different ‘levels’ of historical time—a higher (fundamentalist) level, and a practical (and more analytically tractable) lower level. Using this distinction, we provide a taxonomy of existing strands of post-Keynesian growth theory that are consistent with the concept of low-level historical time. It is shown that despite appearances to the contrary, much post-Keynesian growth theory displays fidelity to Joan Robinson’s concern with the importance of historical time.
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琼·罗宾逊的历史时代与后凯恩斯主义增长理论的现状
本文论述了琼·罗宾逊关于历史时间在经济分析中的重要性的论述。一方面,琼·罗宾逊对均衡分析本身表示怀疑,认为一旦经济学家考虑到预期的不确定性,历史就需要取代均衡。另一方面,罗宾逊强调,在建立经济模型时,人们必须意识到,支配现实的是历史时间,而不是逻辑时间,他警告人们不要在方法论上犯错误,把平衡位置的比较与它们之间的运动混为一谈。我们认为,这些批评指出了在历史时间的两个不同“层次”上进行思考的可能性——一个较高的(原教旨主义的)层次,和一个实际的(更易于分析的)较低的层次。利用这一区别,我们提供了一种与低水平历史时间概念一致的后凯恩斯增长理论现有分支的分类。研究表明,尽管表面上与此相反,许多后凯恩斯增长理论都忠实于琼·罗宾逊对历史时间重要性的关注。
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来源期刊
CiteScore
4.30
自引率
5.00%
发文量
54
期刊介绍: The Cambridge Journal of Economics, founded in 1977 in the traditions of Marx, Keynes, Kalecki, Joan Robinson and Kaldor, provides a forum for theoretical, applied, policy and methodological research into social and economic issues. Its focus includes: •the organisation of social production and the distribution of its product •the causes and consequences of gender, ethnic, class and national inequities •inflation and unemployment •the changing forms and boundaries of markets and planning •uneven development and world market instability •globalisation and international integration.
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