01726nam a2200241 i 4500008004100000020002100041040000800062082001300070100002300083245010500106260003200211300004500243336002600288337002800314338002700342500002000369504002700389520089800416650001401314942000801328952013301336999001501469240115s2000       a          001 0 eng d  a184064933Xqpbk.  aGCL  a339bFIT10aFitzgibbons, Athol14aThe Nature of Macroeconomics :bInstability and change in the Capitalist System /cAthol Fitzgibbons  aUSA :bEdward Elgar,c2000.  axi, 171 pages :billustrations ;c21 cm.  atextbrdacontent2txt  aunmediatedbn2rdamedia  avolumebnc2rdacarrier  aIncludes Index.  aIncludes bibliography.  aThis book addresses the long absence of a satisfactory theory of macroeconomics. Keynesian theory is not consistent with rational self-interest, but neo-classical economics is unable to explain economic volatility and the trade cycle. Athol Fitzgibbons critiques the leading macroeconomic theories, which he believes are unduly mechanistic because they are incompatible with non-quantitative knowledge.
The author sketches the intellectual history of partial knowledge and judgement so far as these relate to macroeconomics, and rejects the claims that Keynes recanted the analysis of practical reason in his Treatise on Probability. Fitzgibbons's theme is the possibility of a new synthesis of Keynes and the neoclassical system. This stresses financial rationality, but it also recognizes that there is an element of indeterminacy in both government policies and the movements of the market.  aEconomics  2ddc  00102ddc406339_000000000000000_FIT7091921aLPLbLPLcBKd2024-01-15l0o339 FITp12540r2024-01-15 13:22:42w2024-01-15yBK  c1241d1241