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The Myth of Richard Kahn and the Multiplier : Keynes, Not Kahn, Created the Multiplier Concept in 1921 in His a Treatise on Probability and Taught Kahn How to Write His June, 1931 Economic Journal Paper

Brady, Michael Emmett - 2020

The myth that R. Kahn taught J M Keynes the multiplier,so that without Kahn's contribution,there would have been no 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...

Persistent link: https://www.econbiz.de/10012827432

Investopedia’s ‘What Is the Keynesian Multiplier?’ Needs to Be Completely Revised to Correct Its Many Errors of Omission and Commission

Brady, Michael Emmett - 2020

Investopedia's “What is the Keynesian Multiplier “ is fundamentally flawed and needs to be completely rewritten in order to eliminate a number of errors of omission and commission concerning Richard Kahn and J M Keynes.First,Richard Kahn's article ,published in 1931 in the Economic...

Persistent link: https://www.econbiz.de/10012827922

Given R. Kahn’s Own 1936 Admission to H. Neisser That "My Own Ideas Were Largely Derived From Mr. Keynes", Shackle’s Claim in 1951 That "…In 1929 Lord Keynes … Groped for the Multiplier Analysis, but Failed to Seize It …", Along With Other Such Claims in His Article, Are Dubious

Brady, Michael Emmett - 2020

There is a very major problem with Shackle's 1951 paper in the Economic Journal concerning the history of the multiplier. Shackle makes claims in his 1951 article, that were later repeated many times in other Shackle articles, that lead a reader to the conclusion that Kahn invented and developed...

Persistent link: https://www.econbiz.de/10012828652

Keynes, and Only J. M. Keynes, Was Responsible for the Logical and Mathematical Development of the Multiplier Concept in 1921(1908) in His a Treatise on Probability (1921) That He Later Used in the General Theory (1936)

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012897487

J M Keynes Had Already Mastered the Mathematical and Logical Theory Required to Develop the Concept of the Multiplier in His a Treatise on Probability in 1921 (and in His 1908 Second Fellowship Dissertation Submitted at Cambridge, England) Long Before Kahn’s 1931 Article on the Employment Multiplier

Brady, Michael Emmett - 2018

Persistent link: https://www.econbiz.de/10012907984

Correcting Paul Samuelson’s Small Error in His November, 1963 Eulogy for Robertson : Dennis Robertson Erred Seriously in His Evaluation of Keynes’s Differential Calculus–Based Multiplier Concept in the General Theory

Brady, Michael Emmett - 2018

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

On Joan Robinson’s Mathematical Confusions About the Foundation for J M Keynes’s Logical Theory of the Multiplier : The Differential Calculus

Brady, Michael Emmett - 2018

Joan Robinson had no idea about what Keynes was talking about in the General Theory with respect to (a) Keynes's Aggregate Supply Curve of Chapter 20,which is a locus of all possible, multiple equilibrium results (Full employment, underemployment, involuntary unemployment), his Liquidity...

Persistent link: https://www.econbiz.de/10012909585

On the Failure of Economists to Grasp the Difference between the Calculus (Instantaneous Change) Model Used by Keynes in the General Theory to Define the Mathematical Theory of the Multiplier in His Model and the Actual Dynamic or Process Multiplier that Occurs in Historical Time That Was Not in His Model

Brady, Michael Emmett - 2019

The mathematical(logical), technical, theoretical exposition of the multiplier given in chapter 10 of the General Theory by Keynes is identical to the exposition given by Keynes in chapter 26 of the A Treatise on Probability in footnote 1 on page 315. The mathematical theory requires that the...

Persistent link: https://www.econbiz.de/10012864008

J M Keynes's Main Argument in the General Theory Is Not Expressed in Terms of His Aggregate Demand (D) and Aggregate Supply (Z) Model. Keynes's D-Z Analysis Supports a Specific Y=C plus I, Marginal Propensity to Consume, Income Expenditure, Investment Multiplier Result (I=S) that Keynes Combined with His Liquidity Preference Function (L=M) to Determine the Rate of Interest in His IS-LP (LM) Model

Brady, Michael Emmett - 2017

Persistent link: https://www.econbiz.de/10012944203

On Joan Robinson’s Role in Creating the Myth That R. Kahn Originated the Multiplier Concept

Brady, Michael Emmett - 2020

An enduring myth accepted by all Orthodox and heterodox economists is that it was Richard Kahn who discovered and originated the concept of the multiplier. Kahn then supposedly showed Keynes how the multiplier concept could be specified mathematically so as to provide hard support for Keynes's...

Persistent link: https://www.econbiz.de/10012823476