The “Closure” Assumption as a First Step: Neo-Ricardian Economics and Post-Keynesianism
Author(s)
Pratten, Stephen
Abstract
Neo-Ricardian economics is irreconcilable with post-Keynesianism due to the former’s deductivist nature and its tentative acceptance of a structured social reality. Post-Keynesianism’s failure in utilizing critical realism and the deductivist method in economic analysis may lead to inconsistencies. However, neo-Ricardianism may be considered important in analyzing the nominal characteristics of Post-Keynesianism.
