Rationality and method: Two contributions of fernando cardim de carvalho to the post Keynesian theory

Abstract

Amongst his prolific bibliographical production, Professor Cardim de Carvalho has given two contributions to the Post Keynesian theory in the topics of rationality under uncertainty and method. Further than two isolated concepts, Professor Cardim de Carvalho intertwines them to discuss Keynes’ method in The General Theory of Employment, Interest, and Money. Professor Cardim de Carvalho argues that the comprehension of the human rationality puts both the observer and observed agents in touch and allows the theorist to model the theoretical agent – consumers, entrepreneurs, financial investors – not as an assumption, but as evidence of reality. Apprehending human rationality is what approximates the analyst to the analyzed individual and this way key to Keynes, the subject, approach his object, the monetary economy of production. Thus, this paper aims to present these contributions by Professor Cardim de Carvalho’s.