Abstract

http://ssrn.com/abstract=2159982
 


 



On the New Appeal of Chapter 12 of the 'General Theory' - Complicating Remarks on the Keynes-Hume Connection and the Presumed Novelty of the Analysis of Financial Markets in the 'General Theory'


Anna Carabelli


University of Piemonte Orientale

Mario A. Cedrini


University of Turin - Department of Economics S. Cognetti de Martiis

October 1, 2012

CESMEP Working paper 02/2012

Abstract:     
A basic presupposition of the rediscovery, in the times of the crisis, of chapter 12 of the 'General Theory' is that Keynes’s treatment of financial markets, and particularly the use of the notion of convention, represents a crucial novelty in both his economics and philosophy. The article offers complicating remarks to critically discuss this interpretation. In particular, we analyze the complex Keynes-Hume theoretical connection in the light of the Keynes-Sraffa correspondence on Hume’s 'Abstract', and emphasize the theoretical legacy of Keynes's 1910 lectures on speculation for the analysis of financial markets in the 'General Theory'.

Number of Pages in PDF File: 36

Keywords: John Maynard Keynes, David Hume, conventions, financial markets, speculation

JEL Classification: B31, B40, D84, A12

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Date posted: October 12, 2012  

Suggested Citation

Carabelli, Anna and Cedrini, Mario A., On the New Appeal of Chapter 12 of the 'General Theory' - Complicating Remarks on the Keynes-Hume Connection and the Presumed Novelty of the Analysis of Financial Markets in the 'General Theory' (October 1, 2012). CESMEP Working paper 02/2012. Available at SSRN: http://ssrn.com/abstract=2159982 or http://dx.doi.org/10.2139/ssrn.2159982

Contact Information

Anna Carabelli
University of Piemonte Orientale ( email )
via Perrone n. 18
Novara, Novara 28100
Italy
Mario A. Cedrini (Contact Author)
University of Turin - Department of Economics S. Cognetti de Martiis ( email )
Campus Luigi Einaudi - Lungo Dora Siena 100
Torino, 10153
Italy
+390116704975 (Phone)
+390116703895 (Fax)
HOME PAGE: http://www.unito.it/unitoWAR/page/dipartimenti4/D031/D031_personale_batch_BasicBook_Docenti_IT7?id=4
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