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Revisiting KeynesEconomic Possibilities for Our Grandchildren$
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Lorenzo Pecchi and Gustavo Piga

Print publication date: 2008

Print ISBN-13: 9780262162494

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262162494.001.0001

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The End of (Economic) History

The End of (Economic) History

(p.151) 11 The End of (Economic) History
Revisiting Keynes

Jean-Paul Fitoussi

The MIT Press

This chapter explains why Keynes’s Economic Possibilities for our Grandchildren remains partially obscure despite demonstrating the power of simple economic calculations. A possible explanation is that Keynes, in freeing himself from economic rigor, is attempting to unveil his moral philosophy and look beyond his own field—a normal enough feat for a thinker of Keynes’s caliber. The results of this endeavor should not be expected to be at the level we are accustomed to read, as being a great economist does not necessarily mean being a great philosopher. What matters, however, is not so much the way Keynes answers the questions he poses but the nature of the questions themselves. Keynes’s answers to the posed questions in this chapter are grounded on three elements: arithmetic, the neurosis of capitalism, and the communism of the elites.

Keywords:   simple economic calculations, economic rigor, moral philosophy, arithmetic, neurosis of capitalism, communism of the elites

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