| Titre | « Une lecture hicksienne de la Théorie Générale de Keynes » : de la difficulté de conjuguer des grammaires différentes | |
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| Auteur | Philippe de Ville | |
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Revue | Cahiers d'économie politique |
| Numéro | no 14-15, printemps-automne 1988 La Théorie Générale de John Maynard Keynes : un cinquantenaire | |
| Rubrique / Thématique | La « Théorie Générale » et l'histoire de la pensée |
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| Page | 51-57 | |
| Résumé anglais |
It is argued that it is not logically consistent to interpret Keynes' General Theory in the light of Hicks' conceptual approach of dynamics. Hicks' sequential analysis is ultimately based on the static equilibrium method. The basic time unit must be a period characterized by a stationary equilibrium. However such basic time unit is difficult to define in a stock-flow model where the stock equilibrium conditions might be inconsistent when they involve expectations with different time horizons. On the contrary, Keynes' implicit approach to dynamics in the General Theory is to get away from Hicks' stationary equilibrium of the basic time unit.
The "day-to-day" key nesian dynamics is based on a basic time unit called the "accounting period" ; it is the time interval within which no change in decisions can be made. At the beginning of each "day", short-run and long- run expectations are formed, decisions are made and results of the previous period are known. At the end of the accounting period, balance-sheets constraints are fulfilled by issuing new assets and liabilities. Financial as well as physical constraints are reevalued. Although still not fully developed and formalized, this approach to dynamics based on a continuous "day-do-day" adjustment of expectations seems to be an alternative to the hicksian pseudo-dynamic equilibrium method. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_1988_num_14_1_1057 |
