Reinterpreting the Keynesian Revolution: A Research School Analysis

Cord, Robert A.

doi:10.1215/00182702-2010-047

Cited by 9 publications

(6 citation statements)

References 64 publications

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“…Participants are academics, very often employed at the same university, especially in a school's earliest days, who gauge their success by publications in key journals and colonization of important graduate programs through the placement of graduate students in good positions. It is perhaps not surprising that one of the best tools of analysis for this type of community, as Robert Cord shows us, is borrowed from the history of science and was developed in the first instance to predict the success and failure of laboratorybased research schools (Cord 2009).…”

Section: Methodsmentioning

confidence: 99%

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Intellectual Communities in the History of Economics

Forget¹,

Goodwin²

2011

History of Political Economy

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Ever since its "golden age" (Goodwin 2008), the history of economics has, to a large extent, envisioned itself as a massive collective biography of writers. Notwithstanding our flirtation with various ideas drawn from other fields, this "man and his work" approach still dominates the problems, methods, and sources of scholarship in the field (Augello and Guidi 2009; Dudenhefer 2009; Cardoso 2009; Faucci 2009). Dissatisfaction with that approach has led the authors of the essays in this issue of HOPE to ask whether we might look at intellectual creation from another angle and examine how economists embedded in various kinds of intellectual communities collectively create, promote, and disseminate their ideas. In many ways, this collection seems thirty years overdue. Our focus parallels the shift Michel Foucault created in Enlightenment studies when, in 1979, he challenged scholars to recognize that the very idea of "authorship" begs analysis in social, political, and cultural context. As a consequence of that challenge, historians of the Enlightenment began to examine the economics of printing and literary property, the institutions of

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Section: Methodsmentioning

confidence: 99%

“…Institutionalization in university setting 14. Adequate financial support It seems clear that some of these characteristics are more important than others, and recent work has begun to assess the relative significance of each in predicting success (Geison and Holmes 1993;Cord 2009).…”

Section: Methodsmentioning

confidence: 99%

Intellectual Communities in the History of Economics

Forget¹,

Goodwin²

2011

History of Political Economy

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“…The multiplier was the best example of this and related to it was the consumption function, which Keynes was able to formulate as a result of Kahn's article and which has received extensive subsequent treatment within the Y = C + I + G rubric. (Cord, 2011).…”

Section: The Failure To Comprehend Keynes' Mathematical Style Leads Only To Errormentioning

confidence: 99%

J M Keynes’s mathematical style: Very concise, precise, and exact

Brady¹

2021

IJMRE

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Keynes's mathematical style, starting with his First Fellowship Dissertation in 1907 for Cambridge University, England, through his formulation of a linear, first order difference equation that incorporated the interaction of the Multiplier and Accelerator (called the Relation) for Harrod's use in his August,1938 correspondence with Harrod, and ending with his exchanges over probability and statistics with J. Tinbergen, an advocate of the Limiting Frequency Interpretation of Probability in 1939-40, was always very concise, precise and exact. Specifically, Keynes always provided the first steps in his mathematical analysis and the last step. However, he would rarely put in the intermediate steps. Keynes's view was that he always provided a clear, literary, prose explanation of his analysis that would allow any reader of his work to grasp the same basic, fundamental points that were being made in the mathematical analysis. A reader concentrating on Keynes's supplementary mathematical analysis would also grasp the basic fundamental point being made. The intermediate mathematical steps in a Keynesian analysis need to be formulated by working backwards from the final step by the reader. This is precisely what economists have failed to do. They have been unable to generate the intermediate steps that connect the first and last steps. For instance, the results that Keynes presented in the General Theory regarding his IS-LM (LP) and D-Z models were never correctly grasped by any mainstream economist in the 20 th and 21 st centuries because they were not able to reconstruct the mathematical analysis in chapters 20 and 21 of the General Theory. All current contributions to macroeconomic history and history of economic thought state that, at best, Keynes only had an intuitive, implicit understanding of the multiplier before 1931. Supposedly, Kahn used mathematical and logical analysis to derive the multiplier in his June, 1931 Economic Journal (EJ) article. He then taught Keynes the technical steps from his article. Therefore, it would have been impossible for Keynes to write the General Theory without Kahn's contribution and instruction. This paper shows that it was Keynes, not Kahn, who developed the mathematical and logical analysis of the multiplier in his A Treatise on Probability ten years before Kahn's article was published.

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“…Jackson (2006) provides a somewhat more recent treatment of the subject. Cord (2011) provides an interesting discussion of the Keynesian revolution in a "research schools" context. a descriptive sense.…”

Section: Introductionmentioning

confidence: 99%

“…See also Geison (1981) and the essays in Geison and Holmes (1993), including Geison’s concluding reflection on “Research Schools and New Directions in the Historiography of Science.” Jackson (2006) provides a somewhat more recent treatment of the subject. Cord (2011) provides an interesting discussion of the Keynesian revolution in a “research schools” context.…”

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confidence: 99%

Identifying a “Chicago School” of Economics: On the Origins, Diffusion, and Evolving Meanings of a Famous Name Brand

Medema

2023

J Hist Econ Thought

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Though the Chicago school has been the subject of no small amount of research over the past several decades, that scholarship has focused largely on persons, ideas, and influence—in short, on the school itself. No attention has been paid to the origins of that label and the avenues via which the notion of a “Chicago school” of economics came to be. This paper attempts to address that lacuna, drawing on both published and archival resources. What emerges is a story of a label of uncertain origin but wrapped up in competing agendas, the first stage in the history of which culminates in 1962 with its rejection by two of the very people who helped birth it.

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Reinterpreting the Keynesian Revolution: A Research School Analysis

Cited by 9 publications

References 64 publications

Intellectual Communities in the History of Economics

Intellectual Communities in the History of Economics

J M Keynes’s mathematical style: Very concise, precise, and exact

Identifying a “Chicago School” of Economics: On the Origins, Diffusion, and Evolving Meanings of a Famous Name Brand

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