Reflections on the method of Keynes

Abstract

The question of method raises probably some of the most controversial discussions of the work of John Maynard Keynes. Briefly, the controversies fall into three main areas: (i) the unit of analysis, i.e., whether Keynes’ economic theory is atomistic or organic; (ii) whether or not there is continuity in Keynes’ philosophical foundations throughout his work; and (iii) speculation about the scientific method Keynes used. In that context, this paper aims to explore the latter of these lines of controversy. The idea is to show that, considering his insights related to the inductivism, mainly in the Treatise on Probability, there are evidences that Keynes’ method was historical and inductive. 

JEL Classification: B2; B4; E12.