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The Virtues of Prudence and Self-Command, not Jeremy Bentham’s Max U or the Invisible Hand of the Market, are Adam Smith’s Foundation for the Wealth of Nations
Brady, Michael Emmett - 2019
The Theory of Moral Senti ... …
Persistent link: https://www.econbiz.de/10012864508
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On Kennedy's Literary Proof of the Impossibility that Smith Had a 'Theory of the Invisible Hand of Markets' in the Wealth of Nations
Brady, Michael Emmett - 2018
G. Kennedy carefully examined the conflict that Smith covered in The Wealth of Nations brought about by Upper Income citizens that Smith classified as “Projectors, Imprudent risk takers, and Prodigals”. Their behavior led to very detrimental, negative outcomes in the macro economy as a...
Persistent link: https://www.econbiz.de/10012930902
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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
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 … discovered that she did not have the slightest idea about his liquidity preference theory of the rate of interest, which is …
Persistent link: https://www.econbiz.de/10012827432
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What Caused Harrod to Completely Capitulate to Keynes in His Letter of August 30, 1935? The Answer Can Be Found in Keynes’s Letter to Harrod of August 27, 1935, Where Keynes Demons...
Brady, Michael Emmett - 2018
acknowledge that Keynes had made a “radical reconstruction” of the theory of the rate of interest. Special significance can be … given to Keynes's three point post script in which Keynes demonstrated that the classical theory of the rate of interest had … a radical reconstruction of the theory of the rate of interest in his letter of August 30, 1935.The result was that …
Persistent link: https://www.econbiz.de/10012911516
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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
, mathematical, modeling strategy of A C Pigou in his The Theory of Unemployment (1933).Pigou's approach was to treat macroeconomic … the General Theory was written by A. Greenspan in 2004 …
Persistent link: https://www.econbiz.de/10012915819
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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