Note

This brings up two further points. First, a methodological break with standard economics is necessary but not sufficient. One must also have a consistent theoretical argument on a variety of more concrete principles. For instance, Ricardo and Keynes have similar notions of turbulent gravitation. Yet, they evidently disagree on the role of effective demand in the determination of output and employment. Ricardo adamantly affirms Say’s Law, which is to say that ‘demand is only limited by production’ (Ricardo, 1951, p. 290). Keynes is equally adamant that production is generally limited by demand at least up to full employment. These are fundamental, one might say, paradigmatic differences in economic theory resting on a common methodological foundation.