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In his August 30th, 1935 letter to Keynes, Harrod not once, but twice, conceded that Keynes had radically reconstituted the classical and neoclassical theory of the rate of interest by pointing out that the standard theory was one equation short. However, by adding the missing Liquidity...
Persistent link: https://www.econbiz.de/10012911542
Extreme mathematical illiteracy played a basic, fundamental role in the assessments made by Joan Robinson, Ralph Hawtrey and Dennis Robertson of Keynes's Theory of Liquidity Preference, which Harrod described in an August 30 1935, letter to Keynes as a major reconstruction of interest rate...
Persistent link: https://www.econbiz.de/10012911779
On pp.37-38 of the A Treatise on Probability ,Keynes was very clear that he was only going to present a 'brief' analysis of non numerical probability graphically as an illustration. However, in Part II, he stated he would present a 'detailed' analysis. This detailed mathematical and logical...
Persistent link: https://www.econbiz.de/10012890989
Professor Sakai has intuitively and heuristically demonstrated correctly that Keynes's introductory diagram on page 39 of the 1921 edition (Page 42 of the CWJMK 1973 edition), which Keynes intended to be only a brief introduction illustrating his theory of measurement in chapter III of the A...
Persistent link: https://www.econbiz.de/10012891107