De Moivre’s book “The Doctrine of Chances” (2) is thorough account of what was known about probability and annuities. The proof that is the object of this paper is included in the very last pages of the book (pages 235-243). The aim of the present paper is to explicate De Moivre’s first...

According to Katz [6] some of the basic notions of probability existed in ancient civilizations. In The Talmud and in Roman calculations of annuities there is some evidence of this. However, no record of numerical probability calculations exists. Hald [5], Bernstein [1] and Katz [6] agree that...

This is a theoretic and econometric assessment of Peter Ferderer’s seminal paper published in the Journal of Post Keynesian Economics with the same title in 1993. New data shows that high forecaster discords coincide with a decrease in Investment expenditure. Specifically, the forecaster...

The logical derivation of the two-factors model (The CAPM) is not empirically testable. This has paved the way for new treatments of asset pricing. However, the deterministic approach taken by most economists has prevented them to create a more useful treatment to the problems of asset pricing...

Munkirs’ notions of Centralized Private Sector Planning and its derivations are very useful in order to give an alternative explanation to the most recent economic crisis. The crisis is the result of the clashes between the old CPSP and a new one based on recently created technology and...