Common Sense and Economic Knowledge: Marx versus Keynes
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This paper attempts to assign proper places to common sense and scientific knowledge in Marx’ and Keynes’systems. Marx conceives common sense both as the starting‐point and as the end‐point of knowledge. For him, scientific investigation starts from common sense, constructs basic categories, and ends up with forging links between the categories and common sense notions. As a result, common sense is reconstructed and subsumed as part of either knowledge or ideology. In Keynes’works, common sense is not entirely subsumed as part of theory or ideology. On his view, common sense, due to its autonomy, serves as checks on economic theory as regards its questions and its implications. Despite these differences, Marx and Keynes share the view that economic theory is neither disembedded from, nor conflated with, common sense and that cognition on the part of theorists and consciousness of agents are interlinked but layered, as illustrated in their concepts of value forms and convention. By these commonalities, Marx’ and Keynes’positions are distinguished from analytic philosophy and from Friedman’ ‘s if’methodology in particular.
Abstract
This paper attempts to assign proper places to common sense and scientific knowledge in Marx’ and Keynes’systems. Marx conceives common sense both as the starting‐point and as the end‐point of knowledge. For him, scientific investigation starts from common sense, constructs basic categories, and ends up with forging links between the categories and common sense notions. As a result, common sense is reconstructed and subsumed as part of either knowledge or ideology. In Keynes’works, common sense is not entirely subsumed as part of theory or ideology. On his view, common sense, due to its autonomy, serves as checks on economic theory as regards its questions and its implications. Despite these differences, Marx and Keynes share the view that economic theory is neither disembedded from, nor conflated with, common sense and that cognition on the part of theorists and consciousness of agents are interlinked but layered, as illustrated in their concepts of value forms and convention. By these commonalities, Marx’ and Keynes’positions are distinguished from analytic philosophy and from Friedman’ ‘s if’methodology in particular.
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