On Keynes’s Method

Carabelli, Anna M.

doi:10.1007/978-1-349-19414-8

Cited by 287 publications

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“…11 On this point see also Carabelli (1988), Rosser (1999 As stressed again by Marchionatti (cf. 2009), in financial markets the evaluations of the investment opportunities depend on the "judgement of the rest of the world" or on the attempt "to conform with the behaviour of the majority or the average" (Keynes, 1937, p. 114).…”

Section: Financial Markets As Complex and Inherently Flawed Systemsmentioning

confidence: 87%

Instability and Crisis in Financial Complex Systems

2013

Review of Political Economy

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Abstract:In this paper I try to contrast the Efficient Markets Hypothesis (EMH) with the Financial Instability Hypothesis (FIH) held by Hyman Minsky taking into account the dynamic complexity of financial markets and the role of fundamental uncertainty and organic interdependence. In my opinion this approach may provide indeed analytical tools to explain crisis through processes endogenous to contemporary economics. The relevance of complex dynamic has been particularly stressed recently by Barkley Rosser (2004;; this author consider indeed complex dynamic a strong foundation for Keynesian models and results. Complex dynamics enter indeed into the analysis in at least two ways: it provides an independent source of fundamental uncertainty and this one, as discuss by Keynes himself (1936, 1937), can lead to speculative bubbles in assets markets and to over-reactions both in lender's and borrower's attitude toward risk. These aspects can lead to financial fragility and instability and follow a variety of complex dynamics. As I shall try to argue a financially complex system, according to the FIH, is indeed inherently flawed: in absence of adequate economic policy, booms and busts phenomena in financial markets fuelled by credit booms and busts, may generate endogenous instability and systemic crisis like the one occurred for the so-called "sub-prime crisis".

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Section: Financial Markets As Complex and Inherently Flawed Systemsmentioning

confidence: 87%

Instability and Crisis in Financial Complex Systems

2013

Review of Political Economy

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“…There were thirty-three chaptersinstead of twenty-one-organized into fi ve parts: "Fundamental Ideas," "Fundamental Theorems," "Induction and Analogy," "Some Philosophical Applications of Probability," and "The Foundations of Statistical Inference." (For overviews, see Braithwaite 1973, Carabelli 1988, and O'Don nell 1989, and, for a statistician's view, Conniffe 1992.) The material on averages found a home in part 2, while that on proportions and correlation went into part 5.…”

Section: A Treatise On Probability (1921)mentioning

confidence: 99%

“…In recent decades interest in the Treatise has been strong with some Keynes scholars promoting it as his other book and the sure path to the General Theory-see Mizuhara and Runde 2003 for a guide to this literature. However, apart from Carabelli 1988 andO'Donnell 1989, there is little here on Keynes the statistician or philosopher of statistics.…”

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Keynes among the Statisticians

Aldrich¹

2008

History of Political Economy

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“…65 In May 1785 he travelled to the location and examples of the ex-votos were sent to British Museum. 66 Hamilton described the cult to Payne Knight who published on the subject. Richard…”

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Emma Martin and the Manhandled Womb in Early Victorian England

Janes¹

2011

The Female Body in Medicine and Literature

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Emma Martin and the manhandled womb in early Victorian England Emma Martin (née Bullock) was born in 1811 and died in 1851. She was a socialist and freethinker. As a child she was strongly religious and at the age of seventeen joined the Particular Baptists -a Calvanist grouping. She remained a believer for a further twelve years. In 1831 she married the Baptist Isaac Luther Martin and they had three daughters. She was very unhappy in the marriage and started to deliver lectures on the role of women. In 1839 she attended her first Owenite social meeting -she was powerfully ambivalent toward the radical views she heard there and she attacked their anti-religious ideas despite their endorsement of her pro women feelings. At the end of that year Isaac moved the family to London and she left him and became a lecturer for the Owenites at a small stipend. Emma Martin"s work, by contrast, reframed the discussion in two important ways. Firstly, she focussed upon her own experience as a former Baptist so as to sustain a sexualised reading of that denomination. Secondly, her reading centred on the baptismal pool as a womb in which the sinner was reborn. Contemporary accounts critical of baptism indicate that the occasion was feared to be an opportunity for sexual impriority. Martin appears to have seen the act of baptism as an often co-erced fertility ritual.Her other pamphlets, of which several survive, are not directly on gendered themes, but are strongly against religion. Her most active period of writing and speaking lasted until Janes, Womb, p. 3 1845 after which she left the movement to become a midwife. She spent her last years lecturing on gynaecology before dying of tuberculosis in 1851. She thus demonstrated the importance of the womb and its order and disorder as a core element in her practice and sense of duty. By thinking with the womb, she was able to place the female generative process -and its abuses at the hands of men -at the centre of her view of the operation of contemporary society. In this she is strikingly different to other writers of the time on comparative religion who either downplayed the womb as compared with the phallus, or who seem to have regarded the womb as somehow abject.Janes, Womb, p. 4 Janes, Womb, p. 6 for them to speak out. 5 Yet the opportunities may have seemed meagre in the face of the fact that two-thirds of members of Baptist churches were women at this time. 6 Moreover, in terms of the general attitudes of society at the time, whilst disseminating the creative efforts of men through tract distribution was a highly respectable act for women, preaching (or semi-legitimate "ranting") was not. 7 The woman with a cause was a recognised, and a stereotyped, figure in early Victorian England. Such a role was hard to reconcile with middle class notions of domestic propriety, but it such a mission was easier to uphold when personal outrage went hand in hand with religious faith. 8 EmmaMartin was, however, to lose not her sense of mission, but her faith and her respectability....

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On Keynes’s Method

Cited by 287 publications

References 0 publications

Instability and Crisis in Financial Complex Systems

Instability and Crisis in Financial Complex Systems

Keynes among the Statisticians

Emma Martin and the Manhandled Womb in Early Victorian England

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