Showing 131 - 140 of 648,421
Keynes was extremely clear in Section Four of Chapter 21 of the General Theory that his theory of the rate of interest …, Keynes's major contribution to economic theory and monetary economics. It is supported my another related model, which Keynes … multiple independent variables.Opposing Keynes's work in the General Theory and his February, 1937, QJE article, where Keynes …
Persistent link: https://www.econbiz.de/10012915286
"The Theory of Unemployment". In 1937, Pigou argued that there were two separate theories of interest rate determination …
Persistent link: https://www.econbiz.de/10014111434
Keynes’s liquidity preference theory of the rate of interest, which lies at the heart of the General Theory(GT,1936).Some … letters contain Keynes’s highly critical observations of her knowledge of basic economic theory, as well as Keynes …’s characterization of Robinson’s understanding of the Keynesian theory of liquidity preference as being “nonsense”. This unknown person …
Persistent link: https://www.econbiz.de/10014091971
Probability. Edgeworth’s careful and judicious reading of Keynes’s chapter III allowed him to conclude that Keynes’s theory was an … interval valued theory of probability, as opposed to Kyburg’s claims that Keynes merely had made some comments that would lead … an interval valued theory of probability if they were developed mathematically and logically.Wheeler ‘s evaluation of …
Persistent link: https://www.econbiz.de/10014093334
The myth, that R. Kahn developed the mathematical and logical theory of the multiplier and then taught J M Keynes about … able to write and publish the General Theory in February, 1936. This myth, like the myth that there is no IS …-LM mathematical model in the General Theory, can be traced directly to deliberate canards originally made up by Joan Robinson …
Persistent link: https://www.econbiz.de/10014093826
The claim made to Robert Skidelsky by Richard Kahn, published in Skidelsky’s 1992 second volume of his autobiography of Keynes, that “…he recalled Keynes himself as being a poor mathematician by 1927…”, is in direct conflict with Kahn’s 1936 reply to Neisser, that "My own ideas were...
Persistent link: https://www.econbiz.de/10014102987
Probability, the General Theory,and the 1937 Quarterly Journal of Economics, reveal that Keynes’s discussions about uncertainty in … the General Theory, and the 1937 Quarterly Journal of Economics article are simply small ,minor footnotes to the A … probability, weight,and his liquidity preference theory of the rate of interest on pages 148 and 240 of the General Theory. There …
Persistent link: https://www.econbiz.de/10014104170
probability, although Keynes's theory of probability can easily deal with ordinal probability with the aid of Keynes's principle …
Persistent link: https://www.econbiz.de/10012843351
Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where … effective rate of interest, r1 or r2? Of course, the answer is that the neoclassical theory is unable to pick out either r1 or r …2 . The answer is indeterminate because the neoclassical theory is “… one equation short of what is required to give a …
Persistent link: https://www.econbiz.de/10012953043
Joan Robinson had no idea about what Keynes was talking about in the General Theory with respect to (a) Keynes …, underemployment, involuntary unemployment), his Liquidity Preference Theory based on his equation on p.199 of the General Theory, his … uncertainty in the General Theory to support his Liquidity preference theory of the rate of interest which Keynes modelled in his …
Persistent link: https://www.econbiz.de/10012909585