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G. Kennedy carefully examined the conflict that Smith covered in The Wealth of Nations brought about by Upper Income citizens that Smith classified as “Projectors, Imprudent risk takers, and Prodigals”. Their behavior led to very detrimental, negative outcomes in the macro economy as a...
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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 made by Joan Robinson repeatedly in her life time.Keynes exposed Robinson … discovered that she did not have the slightest idea about his liquidity preference theory of the rate of interest, which is …
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acknowledge that Keynes had made a “radical reconstruction” of the theory of the rate of interest. Special significance can be … given to Keynes's three point post script in which Keynes demonstrated that the classical theory of the rate of interest had … a radical reconstruction of the theory of the rate of interest in his letter of August 30, 1935.The result was that …
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