In his August 30th, 1935 letter to Keynes, Harrod not once, but twice, conceded that Keynes had radically reconstituted … short. However, by adding the missing Liquidity Preference equation, Keynes had shown how a quantitatively, determinate …, Harrod backtracked and worked feverously to undermine this admission on his part to Keynes, due to his own extreme petty and …

Hawtrey and Dennis Robertson of Keynes's Theory of Liquidity Preference, which Harrod described in an August 30 1935, letter … to Keynes as a major reconstruction of interest rate theory. Harrod stated that the classical (neoclassical) theory of … independent variable, r, where M=L(r).Robertson, Hawtrey,and Robinson did not understand the mathematics involved in Keynes's M …

Keynes was extremely clear in Section Four of Chapter 21 of the General Theory that his theory of the rate of interest …-investment multiplier. All three elements determine the rate of interest. Keynes called this model the IS-LP(LM) model. This is, of course …, Keynes's major contribution to economic theory and monetary economics. It is supported my another related model, which Keynes …

Keynes made it crystal clear in his comments on the draft copy of Pigou’s future 1937 article in the Economic Journal … goods. Keynes made it plain that neither determined the rate of interest alone. Both of Pigou’s ‘theories’ had to be … combined together in order to determine the rate of interest. Of course, Keynes’s LP(LM) curve had to be combined with the IS …

Joan Robinson created a large number of myths in her lifetime aimed at attacking Keynes, such as the claim about R …. Kahn inventing and teaching Keynes about the Multiplier, her claim that Keynes’s ‘instantaneous ‘ multiplier is highly … suspect, her claim that Keynes had a purely monetary theory of the rate of interest, her claim that there is no IS-LM model in …

Keynes‘s first paragraph in his letter of the 9th of November,1936, is the following two lines: “I beg you not to … Theory between 1930 and February, 1936, given the nature of these exchanges.Keynes is very specific as regards his Liquidity … preference has to be thrown overboard…Such a conclusion cannot be brought in as a tacit inference from an unargued obiter dictum,”(Keynes …

Keynes’s concept of uncertainty from his 1908 Cambridge Fellowship dissertation to his death in 1946 was a range … of what Keynes defined to be the evidential weight of the argument, which was specified formally by Keynes over two …≤V≤1.All Post Keynesian and heterodox economists reject Keynes’s formulation, which requires mathematical modeling that …