Keynes’s IS-LM model in the General Theory, defined in (r,Y) space and contained in chapter 21 in Part IV on pp. 298-299 of the General Theory, was derived from the underlying D-Z model of Chapter 20 that incorporated expectations and uncertainty into the P(expected economic profits-Z) and...

J. Muth's 1961 article on rational expectations was written without any knowledge on Muth's part about what a subjective theory of probability entails and is based on, or what an objective theory of probability entails and is based on. Muth's disbelief, that the individual, subjective...

J M Keynes's method was explicitly introduced and used in the A Treatise on Probability in Parts II, III and V. Keynes's method is an inductive logic built on the mathematical logic and algebra of George Boole. Boole introduced non linearity and non additivity into his approach using interval...