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What J. Viner (and Everyone Else) Overlooked in His 1936 and 1964 Reviews Concerning Keynes's Liquidity Preference Analysis in the General Theory and the 1937 Quarterly Journal of ...
Brady, Michael Emmett - 2017
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
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Kahn’s Mathematical Style, in His June, 1931 Multiplier Article in the Economic Journal, Is Identical to Keynes’ Style of Presenting Mathematical Results Starting in 1921 in the A...
Brady, Michael Emmett - 2018
The manner in which R. Kahn presented his mathematical results on the multiplier in the Economic Journal of June, 1931, is identical to the style of presenting mathematical results used by Keynes to present his mathematical analysis starting with the A Treatise on Probability in 1921. Keynes's...
Persistent link: https://www.econbiz.de/10012907803
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J. Hicks's 'Famous' IS-LM Figures 1 and 2 on Page 153 of His 1937 Econometrica Paper are Based Directly on Page 207 of the General Theory
Brady, Michael Emmett - 2017
Hicks's 1937 interpretation of Keynes's 1936 General Theory IS-LP(LM) model, which was analyzed in (r,Y) space by … pp.200-202, 207 and p.298 of the General Theory. Keynes provides a specific, written description of the LP curve, Hicks … without citing Keynes's technical description on page 207 of the General Theory. Hicks only cites pp.200-201 of the General …
Persistent link: https://www.econbiz.de/10012946161
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Keynes and Samuelson Combined Provided the Complete Foundation for a Science of Macroeconomics : Complexity Modeling Is Welcome, But Not Necessary, for a Scientific Foundation for...
Brady, Michael Emmett - 2018
complete scientific foundation for macroeconomic theory. Keynes's Aggregate Supply Curve (ASC),presented initially on pp. 55 …-56 in footnote 2 of the General Theory and in great detail in chapter 20, provided the foundations for incorporating …
Persistent link: https://www.econbiz.de/10012920191
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The Myth of Richard Kahn and the Multiplier : Keynes, Not Kahn, Created the Multiplier Concept in 1921 in His a Treatise on Probability and Taught Kahn How to Write His June, 1931...
Brady, Michael Emmett - 2020
division undergraduates in all economics courses, even though Smith himself completely rejected any such theory in both the … 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 made by Joan Robinson repeatedly in her life time.Keynes exposed Robinson …
Persistent link: https://www.econbiz.de/10012827432
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On W. Brian Reddaways's 1936 Review of the General Theory : How He Completely Overlooked Keynes's IS-LP(LM) Model
Brady, Michael Emmett - 2017
review.Reddaway's own interpretation of an IS-LP(LM) model is inferior to both places in the General Theory where Keynes … pp. 297-298, where Keynes attacks the use of pseudo mathematical exposition in the General Theory, while completely …
Persistent link: https://www.econbiz.de/10012946855
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An Analysis of Mistakes Made by Economists in their Study of Keynes's Diagram on Page 180 in the General Theory
Brady, Michael Emmett - 2017
Economists who analyzed Keynes's Diagram on page 180 of the General Theory erred by (a) reading only the first one … Theory demonstrated, the main model of the GT is Keynes's version of IS - (LP) LM. The Theory of Effective Demand, based on … the D-Z model of Chapters 20 and 21, supports Keynes's IS - LM.Keynes never expected the economics profession to accept …
Persistent link: https://www.econbiz.de/10012950893
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On the Complete Misunderstanding by Economists of Keynes’s Alleged Attack on ‘Mathematical Economics’ in the General Theory in the Appendix to Chapter 19 and Chapter 21
Brady, Michael Emmett - 2018
J M Keynes's supposed attack on mathematical economics is a myth created by Joan Robinson and her fellow Pseudo … economics. Of course, he does attack “pseudo mathematics” and “mathematical” economics. What Keynes was attacking was the formal …, mathematical, modeling strategy of A C Pigou in his The Theory of Unemployment (1933).Pigou's approach was to treat macroeconomic …
Persistent link: https://www.econbiz.de/10012915819