No model can ever be true. By definition, models are only, at best, approximations to reality. Some models are better approximations than others, so one can talk about one model being better than another model. However, to talk about a model yielding true predictions means that the speaker does...

The unanimous conclusion of philosophers and economists over the last 100 years is that Keynes‘s contribution to a theory of imprecise probability in his A Treatise on Probability was to provide some interesting notions, intuitions, ideas, suggestions, hints, or clues about imprecise...

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...

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...