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Slaves of the Defunct: The Epistemic Intractability of the Hayek-Keynes Debate

Abstract The present essay addresses the epistemic difficulties involved in achieving consensus with respect to the Hayek-Keynes debate. In particular, it is argued that the debate cannot be settled on the basis of the observable evidence; or, more precisely, that the empirical implications of the theories of Hayek and Keynes are such that, regardless of what is observed, both of the theories can be interpreted as true, or at least, not falsified. Regardless of the evidence, both Hayek and Keynes can be interpreted as right. The underdetermination of theories by evidence is an old and ubiquitous problem in science. The present essay makes explicit the respects in which the empirical evidence underdetermines the choice between the theories of Hayek a... (more)
Created Date 2012
Contributor Scheall, Scott Davis (Author) / Creath, Richard (Advisor) / Armendt, Brad (Committee member) / French, Peter (Committee member) / Arizona State University (Publisher)
Subject Philosophy / Philosophy of science / Economics / Business Cycle Theory / Hayek / Keynes / Macroeconomics / Theory Choice / Underdetermination
Type Doctoral Dissertation
Extent 200 pages
Language English
Reuse Permissions All Rights Reserved
Note Ph.D. Philosophy 2012
Collaborating Institutions Graduate College / ASU Library
Additional Formats MODS / OAI Dublin Core / RIS

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Description Dissertation/Thesis