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Dennis Robertson had no understanding of how J M Keynes's Multiplier concept was based on the use of differential calculus techniques that required one to take the mathematical limit of an infinite, decreasing, geometric series. Robertson failed to see that the derivative concept requires that...
Persistent link: https://www.econbiz.de/10012909554
In a Table(Table 6.1-Keynes-J .Robinson correspondence ) contained at the back of a 2005 article by Marcuzzo and Sardoni,it is clear that someone had deliberately removed seven of the twelve letters of correspondence between J M Keynes(JMK) and Joan Violet Robinson(JVR) from September,8th...
Persistent link: https://www.econbiz.de/10014091971
The myth, that R. Kahn developed the mathematical and logical theory of the multiplier and then taught J M Keynes about the technical and mathematical properties of the multiplier concept is a myth deeply inbedded in the economics profession.It then leads to another myth that without Kahn’s...
Persistent link: https://www.econbiz.de/10014093826
Gavin Kennedy has carefully shown that the “Invisible Hand” myth, that greedy and selfish private optimizing behavior leads to a social macro optimum that benefits all, had nothing to do with Adam Smith's use of the invisible hand metaphor in The Wealth of Nations. Kennedy also showed that...
Persistent link: https://www.econbiz.de/10012942585
Over the course of their professional lives, Henry E. Kyburg, Isaac Levi, and Jochen Runde have maintained the claim that J M Keynes’s contributions to probability and decision theory were of a comparative, qualitative nature only. They maintained that J M Keynes had some interesting, but...
Persistent link: https://www.econbiz.de/10014173593