ABSTRACT
Although a considerable amount has been written on John Maynard Keynes’s notion of convention, there is some disagreement about what he meant by the term. Among those who have discussed this problem,2 John Davis has probably done most to elaborate the development of Keynes’s thinking on the role of convention. But Davis’s interpretation has been challenged in Runde’s (1994c) commentary on Davis (1994a). It is worth examining this exchange in detail, as this helps to provide greater insight into the meaning of the concept. My purpose, then, is to propose an alternative interpretation of Keynes’s views on convention, one that turns out to be closer to Runde’s than it is to Davis’s.
