Format of Original
Erasmus Institute for Philosophy and Economics
Erasmus Journal for Philosophy and Economics
Marshall’s asset equilibrium model provides a way of
explaining the identity of entrepreneurs. Keynes adopted this model but
transformed it when he emphasized the short-period and volatile
character of long-term expectations. This entails a view of entrepreneur
identity in which radical uncertainty plays a central role. This in turn
deepens the post Keynesian view of uncertainty as ontological in that
entrepreneurs’ survival plays into their behavior. This paper explores
this role-based view of individual identity and uses the analysis to
comment on Keynes’s ideas for the socialization of investment and
euthanasia of the rentier in the last chapter of The general theory.
Davis, John B., "Uncertainty and Identity: A Post Keynesian Approach" (2010). Economics Faculty Research and Publications. 143.