Coping with Complexity - Keynes and International Economic Relations in the Aftermath of WWI
University of Piemonte Orientale
Mario A. Cedrini
University of Turin - Department of Economics S. Cognetti de Martiis
November 1, 2008
Quaderni SEMeQ Working Paper No. 12/2008
In the attempt to deepen the understanding of Keynes's thought as an international macroeconomist, we explore the hypothesis of consistency between his general methodological approach to the economic material and his way of reasoning about international economic relations as shaped by WWI. We argue that the methodology of "The Economic Consequences of the Peace" reflects Keynes's attempt to cope with the attributes of the complexity characterizing the European settlement for the post-war period, and particularly 1) organic interdependence among variables at play, 2) irreducible dilemmas and situations of conflict, as well as 3) the need for external, public assistance to overcome the impasse and promote a "shared responsibilities" approach to the imbalances. Striking similarities appearing with the method of Keynes's economic diplomacy in the Forties call for further research in this sense.
Number of Pages in PDF File: 31
Keywords: Keynes, complexity, international economic relations
JEL Classification: B31, F02, B41Accepted Paper Series
Date posted: December 8, 2008
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