La The transformation of theories and paradigms as a product of economic crises
Abstract
Economic crises have historically served as critical junctures in the evolution of economic thought, prompting the reconfiguration of theoretical frameworks and paradigms. Within this context, the present study examines two “theoretical revolutions”: the Keynesian and the Marxist. Keynes posited that economic crises stem from deficiencies in aggregate demand and are thus amenable to correction through state intervention. In contrast, Marx viewed crises as the inevitable outcome of capitalism’s intrinsic contradictions. This analysis is further enriched by insights from the philosophy of science—particularly the contributions of Kuhn, Popper, and Lakatos—in order to assess whether the so-called “Keynesian revolution” constitutes a genuine scientific revolution or rather represents a gradual adjustment within an existing research program. The study argues that, unlike the natural sciences, economics has not undergone definitive paradigm shifts, largely due to the pervasive influence of political and ideological factors. The research concludes by contending that contemporary crises necessitate a fundamental rethinking of economic thought, one that embraces heterodox approaches and acknowledges the historical and institutional determinants shaping economic policy.
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