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Economists who analyzed Keynes's Diagram on page 180 of the General Theory erred by (a) reading only the first one … Theory demonstrated, the main model of the GT is Keynes's version of IS - (LP) LM. The Theory of Effective Demand, based on … his uncertainty analysis in the General Theory simply because the overwhelming number of economists, then as now, accepted …
Persistent link: https://www.econbiz.de/10012950893
Edgeworth's two reviews of the A Treatise on Probability, in Mind and The Journal of the Royal Statistical Society, demonstrated an understanding of many of the topics of Keynes' approach that was not achieved by any other reviewer, including the reviews made by B. Russell and C. D....
Persistent link: https://www.econbiz.de/10012989950
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
theory of imprecise probability in his A Treatise on Probability was to provide some interesting notions, intuitions, ideas …, suggestions, hints, or clues about imprecise probability, but that Keynes himself had never provided any worked out theory using … constructed an ordinal theory of comparative probability based on pp. 38-40 of chapter III of the A Treatise on Probability. There …
Persistent link: https://www.econbiz.de/10012826837
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 …
Persistent link: https://www.econbiz.de/10012827432
The major impediment standing in the way for economists seeking to understand Adam Smith's The Theory of Moral …
Persistent link: https://www.econbiz.de/10012977960
Persistent link: https://www.econbiz.de/10013013853
F Y Edgeworth made the only correct assessment of Keynes’s Logical Theory of Probability, as presented in his A … ordinal theory of probability directly clash with the conclusions of every philosopher who has written on the A Treatise on … Probability, since all philosophers support the conclusion that Keynes was suggesting or hinting at the use of an interval theory …
Persistent link: https://www.econbiz.de/10014093422