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Hicks's 1937 interpretation of Keynes's 1936 General Theory IS-LP(LM) model, which was analyzed in (r,Y) space by Keynes, in which Hicks used his IS-LL model in (Y,r) space, where we use Keynes's Y for income and not Hicks's I for income, supposedly generated much more interest and following...
Persistent link: https://www.econbiz.de/10012946161
Ramsey's 1922 and 1926 critiques about Keynes's logical ,objective probability relations overlooked Keynes's already specified response that Keynes had incorporated on pp. 35-36 of chapter III of the A Treatise on Probability FIVE YEARS before Ramsey made his critique .This fact calls into...
Persistent link: https://www.econbiz.de/10012822589
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
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