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the General Theory appeared in print. Keynes used a terminology that substituted Liquidity Preference (LP) for the later … briefly in Section IV of chapter 15, and then presented in great detail in Section IV of chapter 21 of the General Theory …
Persistent link: https://www.econbiz.de/10012948500
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
the process to actually function, so that in the real world it is not instantaneous, with the mathematical theory of the … the General Theory were sound.D. Robertson ‘s confused attempts at critiquing Keynes's concepts of the logical theory of …
Persistent link: https://www.econbiz.de/10012909554
January, 1922 issue of the Cambridge Magazine that supposedly demolished and destroyed Keynes’s logical theory of probability ….Ramsey had no idea about what Keynes’s logical theory of probability was. For instance, Ramsey had no idea that Keynes’s logical … Ramsey did destroy and demolish Keynes’s theory, a theory that is the backbone of Keynes’s 1936 General Theory.Apparently, it …
Persistent link: https://www.econbiz.de/10013238907
handles ordinal probability, the theory of the Treatise on Probability is that of “Approximation,” which is interval valued …
Persistent link: https://www.econbiz.de/10012923787