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The Role of the Virtue of Prudence in a Racing Competition and in an Economic Competition in the Market Place : Prudence Is the First and Only Virtue Applied in Both Situations

Brady, Michael Emmett - 2019

Just as there is a division of labor and specialization of function in the economic realm, the application of the different virtues also is divided up and specialized in actual application.Adam Smith's example of running a race emphasized the fact that, when preparing and training and running...

Persistent link: https://www.econbiz.de/10012865626

Keynes’s Logical Theory of Probability Is Concerned with Rational Degrees of Belief Based on Cognition, Which Are Not Mysterious or Mystical, Rank Ordered or Qualitative : F P Rams...

Brady, Michael Emmett - 2019

Recent exchanges between two academics on the Internet ,both experts in conventional and unconventional approaches to decision theory, reveal an astounding lack of knowledge and understanding regarding the makeup of Keynes's logical theory of probability as put forth by Keynes in 1921,...

Persistent link: https://www.econbiz.de/10012866735

The Rational Expectations Hypothesis Can Never, Ever Be Shown to Be True (False), Correct (Incorrect), Right (Wrong) or Proven (Not Proven) : Ignoring Haavelmo’s Warning about Conf...

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012867099

The Labor Market Analysis in Lange’s 1938 Economica Article, Modigliani’s 1944 Econometrica Article, and Klein’s 1946 Book, the Keynesian Revolution, Are All Equivalent to Keynes’s...

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012867350

Killing ‘Homo Economicus’ (Jeremy Bentham) Is Much, Much, Much, More Easier Said Than Done : Only the Smith – Keynes Inexact Measurement Approach Can Neutralize the Strong Attracti...

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012867716

J M Keynes’s Mathematical Platonism(Realism) in the A Treatise on Probability, Like Kurt Godel’s Mathematical Platonism, Held That All Mathematical Entities Were Independent of the...

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012868282

What Keynes Stated in 1937, As He Had Stated in 1921 and 1936, Was That ’We Simply Do Not Know (About the Distant or Far Future)' : The Post Keynesian (Robinson, Shackle, Weintraub...

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012868772

On R. Muth’s Impossible Dream : Trying to turn Subjective Probabilities into Objective Probabilities

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012869139

J M Keynes’s Range Definition of Uncertainty (Uncertainty Ranges From Complete Knowledge to Complete Ignorance) Versus the Post Keynesian (Joan Robinson, P. Davidson, G. Shackle) B...

Brady, Michael Emmett - 2019

Persistent link: https://www.econbiz.de/10012869446

J M Keynes’s Logical Theory of Probability in the A Treatise on Probability (1921) Is Based on the Interval Valued Approach of Boole and Not on the Principle of Indifference, Which...

Brady, Michael Emmett - 2019

It was George Boole who published the first systematic exposition of a logical theory of probability in 1854 in The Laws of Thought. J M Keynes was the second scholar to publish a systematic, technical exposition of logical probability. This was all carefully presented by the American...

Persistent link: https://www.econbiz.de/10012869813