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What J. Viner (and Everyone Else) Overlooked in His 1936 and 1964 Reviews Concerning Keynes's Liquidity Preference Analysis in the General Theory and the 1937 Quarterly Journal of...
Brady, Michael Emmett - 2017
Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where … effective rate of interest, r1 or r2? Of course, the answer is that the neoclassical theory is unable to pick out either r1 or r …2 . The answer is indeterminate because the neoclassical theory is “… one equation short of what is required to give a …
Persistent link: https://www.econbiz.de/10012953043
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Kahn’s Mathematical Style, in His June, 1931 Multiplier Article in the Economic Journal, Is Identical to Keynes’ Style of Presenting Mathematical Results Starting in 1921 in the A...
Brady, Michael Emmett - 2018
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
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Given B. De Finetti’s Conclusion that 'Probability (Objective) Does not Exist', Then Rational Expectations Does not Exist Either
Brady, Michael Emmett - 2018
existing theory of probability that supports the claims made by rational expectationists. There is no right(wrong), correct … theory of probability. Likewise, all objective theories of probability deny the existence of subjective probability …
Persistent link: https://www.econbiz.de/10012908227
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Rational Expectations Has No Foundation in Any Coherent, Existing Theory of Probability
Brady, Michael Emmett - 2018
The theory of rational expectations has no foundation in any extant theory of probability. None of the five existing …
Persistent link: https://www.econbiz.de/10012910371
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Rational Expectations Theorists Rely Completely on the Fallacy of Conditional Apriorism (Long Runism), First Introduced by Charles Sanders Pierce and Hans Reichenbach in Their Obje...
Brady, Michael Emmett - 2019
All Rational Expectation Theorists rely on the Fallacy of Conditional Apriorism (Long Runism)in order to operationalize the Objective Limiting Frequency Interpretation of Probability. However, such a limit only occurs in the far distant long run as the number of observations from Time Series...
Persistent link: https://www.econbiz.de/10012893664
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J M Keynes's Main Argument in the General Theory Is Not Expressed in Terms of His Aggregate Demand (D) and Aggregate Supply (Z) Model. Keynes's D-Z Analysis Supports a Specific Y=C...
Brady, Michael Emmett - 2017
Keynes's Theory of Effect ... …
Persistent link: https://www.econbiz.de/10012944203
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J. Hicks's 'Famous' IS-LM Figures 1 and 2 on Page 153 of His 1937 Econometrica Paper are Based Directly on Page 207 of the General Theory
Brady, Michael Emmett - 2017
Hicks's 1937 interpretation of Keynes's 1936 General Theory IS-LP(LM) model, which was analyzed in (r,Y) space by … pp.200-202, 207 and p.298 of the General Theory. Keynes provides a specific, written description of the LP curve, Hicks … without citing Keynes's technical description on page 207 of the General Theory. Hicks only cites pp.200-201 of the General …
Persistent link: https://www.econbiz.de/10012946161