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only in the standard mathematical theory of probability. The crucial assumption for Ramsey was additivity. Of course …
Persistent link: https://www.econbiz.de/10014122608
A major source of confusion about Keynes’s Liquidity Preference theory of the rate of interest is the failure of … readers of the General Theory to recognize that chapter 13 is an introductory chapter that lays the ground work and … foundations for chapter 15. Keynes’s actual theory is presented in chapters 15. All of the elements are then brought together in …
Persistent link: https://www.econbiz.de/10014110247
General Theory was a work of collaboration. Marcuzzo (2002) claims that R. Kahn was a collaborator with Keynes in writing the … General Theory.The post General Theory work of J. Robinson and R. Kahn offers overwhelming evidence that they not only did not … collaborate with Keynes in the writing of the General Theory, but that they had no idea whatsoever about what Keynes was doing …
Persistent link: https://www.econbiz.de/10012946535
J. M. Keynes's general comments made on pp. 275-276, pp. 297-298, and p.305 of the General Theory concerning the … potential problems with the model, was presented on pp. 298-303 of the General Theory. Keynes spent five pages listing what … applying the model, were presented by Keynes. Nevertheless, Keynes made it crystal clear on p. 299 of the General Theory that …
Persistent link: https://www.econbiz.de/10012947454
the General Theory appeared in print. Keynes used a terminology that substituted Liquidity Preference (LP) for the later … briefly in Section IV of chapter 15, and then presented in great detail in Section IV of chapter 21 of the General Theory …
Persistent link: https://www.econbiz.de/10012948500
Probability and the concept of uncertainty in the General Theory both follow directly from Keynes's analysis and application of …
Persistent link: https://www.econbiz.de/10012948978
in the General Theory is contained in chapter 15 on pp.199-203, 208-09 where it is summarized and briefly analyzed. It is … more comprehensively analyzed in chapter 21 on pp.298-303. The General Theory versions in chapters 15 and 21 are much more … work contained in chapters 15 and 21 of the General Theory …
Persistent link: https://www.econbiz.de/10012949865
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 … his uncertainty analysis in the General Theory simply because the overwhelming number of economists, then as now, accepted …
Persistent link: https://www.econbiz.de/10012950893