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J. Viner, as well as all other economists who have written on Keynes's analysis of the rate of interest in the General Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where Keynes clearly and carefully derived and identified...
Persistent link: https://www.econbiz.de/10012953043
The manner in which R. Kahn presented his mathematical results on the multiplier in the Economic Journal of June, 1931, is identical to the style of presenting mathematical results used by Keynes to present his mathematical analysis starting with the A Treatise on Probability in 1921. Keynes's...
Persistent link: https://www.econbiz.de/10012907803
Hicks's 1937 interpretation of Keynes's 1936 General Theory IS-LP(LM) model, which was analyzed in (r,Y) space by Keynes, in which Hicks used his IS-LL model in (Y,r) space, where we use Keynes's Y for income and not Hicks's I for income, supposedly generated much more interest and following...
Persistent link: https://www.econbiz.de/10012946161
Keynes and Samuelson provided the theoretical, technical and mathematical modeling necessary in order to provide a complete scientific foundation for macroeconomic theory. Keynes's Aggregate Supply Curve (ASC),presented initially on pp. 55-56 in footnote 2 of the General Theory and in great...
Persistent link: https://www.econbiz.de/10012920191
The myth that R. Kahn taught J M Keynes the multiplier,so that without Kahn's contribution,there would have been no possibility of Keynes having written the General Theory in 1936,like the myth that there is no IS-LM mathematical model in the General Theory , can be traced to deliberate canards...
Persistent link: https://www.econbiz.de/10012827432
W. Brian Reddaway supposedly attended the December 4th,1933 lecture where Keynes first presented his IS-LP(LM) model. However, his 1936 review in the Economic Record calls into question if he was actually there for the entire time of the lecture.His review does not mention Keynes's work in...
Persistent link: https://www.econbiz.de/10012946855
Keynes made a final reassessment of his chapter 15, Section IV simultaneous, four equation IS-LM model in Section IV of chapter 21 of the General Theory that is duplicated in his 1937 Quarterly Journal of Economics article . In his 1937 reply, his summary of the two main reasons for his...
Persistent link: https://www.econbiz.de/10012950753
Economists who analyzed Keynes's Diagram on page 180 of the General Theory erred by (a) reading only the first one-half of page 181 and (b) by using the wrong equation of liquidity preference on page 168 from chapter 13 instead of the correct equation on page 199 of chapter 15. Keynes's clearly...
Persistent link: https://www.econbiz.de/10012950893