Why Post Keynesianism is Not Yet a Science

Economic Analysis and Policy, Vol. 43(1), March 2013, pp. 95-106

12 Pages Posted: 12 Mar 2013

See all articles by Egmont Kakarot-Handtke

Egmont Kakarot-Handtke

University of Stuttgart - Institute of Economics and Law

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Date Written: March 1, 2013

Abstract

In a programmatic article Alfred Eichner explained, from a Post Keynesian perspective, why neoclassical economics is not yet a science. This was some time ago and one would expect that Post Keynesianism, with a heightened awareness of scientific standards, has done much better than alternative approaches in the meantime. There is wide agreement that this is not the case. Explanations, though, differ widely. The present – strictly formal – inquiry identifies an elementary logical flaw. This strengthens the argument that the Post Keynesian motto β€˜it is better to be roughly right than precisely wrong!’ is methodologically indefensible.

Suggested Citation

Kakarot-Handtke, Egmont, Why Post Keynesianism is Not Yet a Science (March 1, 2013). Economic Analysis and Policy, Vol. 43(1), March 2013, pp. 95-106. Available at SSRN: https://ssrn.com/abstract=2231955

Egmont Kakarot-Handtke (Contact Author)

University of Stuttgart - Institute of Economics and Law ( email )

Keplerstrasse 17
Stuttgart
Germany

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