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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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On Joan Robinson’s Mathematical Confusions About the Foundation for J M Keynes’s Logical Theory of the Multiplier : The Differential Calculus
Brady, Michael Emmett - 2018
Joan Robinson had no idea about what Keynes was talking about in the General Theory with respect to (a) Keynes …, underemployment, involuntary unemployment), his Liquidity Preference Theory based on his equation on p.199 of the General Theory, his … uncertainty in the General Theory to support his Liquidity preference theory of the rate of interest which Keynes modelled in his …
Persistent link: https://www.econbiz.de/10012909585
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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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An Analysis of Joan Robinson's Virulent Attacks on J. M. Keynes, the General Theory and the IS-LP(LM) Model : On the Need for Historians of Economic Thought to Remove Joan Robinson...
Brady, Michael Emmett - 2017
Delivered at Oxford by a Cambridge Economist”. It represents a total, direct attack on J. M. Keynes and the General Theory. Joan … Theory rests completely on the type of rationale contained in a 1983 Journal of Economic Literature article by Gram –Walsh …, where they express their belief that, since she worked directly with Keynes on the writing of the General Theory, then she …
Persistent link: https://www.econbiz.de/10012944818