Development Of Keynes Research Articles

On R. Skidelsky's Role in Promoting the Hicksian IS-LM Myth: How His Own Mathematical Confusion Concerning Keynes's Theory of Effective Demand D-Z Model and Keynes's IS-LP(LM) Model Completely Undermines His Claims About the General Theory

R Skidelsky’s complete misunderstanding of the role that formal mathematics played in the development of Keynes’s IS-LP (LM) model and his Theory of Effective Demand in the General Theory explains his confused and confusing comments about the development of the IS-LM model and his mistaken belief that Hicks was the one who developed and used mathematical modeling to formalize Keynes’s alleged “verbal” analysis in the General Theory. Exactly the opposite is the case. Keynes, not Hicks, created the IS-LP(LM) model in December,1933 and explicitly incorporated it in chapters 15 and 21 in section IV of both chapters of the General Theory. Chapters 15 and 16 of Skidelsky’s 1992 John Maynard Keynes: The economist as savior -1920-1937 are an intellectual and historical mess that make no sense once it is realized that Keynes created, developed, taught, and applied the IS-LP(LM) model some four years before Hicks’s 1937 article appeared in print in Econometrica. Dimand (2007, 2010), and later Rubin (2014, 2016), correctly realized what Skidelsky completely missed, which was that Keynes had constructed the first IS-LP (LM) model in December, 1933. It appears in the 1934 draft of the GT. By September, 1935, Keynes had integrated Y, aggregate Income, into the LP equation as it would appear on p.199 of the GT in chapter 15. Dimand correctly points out that this refutes Samuelson’s conjecture that Keynes did not understand his own model until he had read Hicks’s IS-LL interpretation in 1937, as well as the claims of the Robinson’s and Kahn that IS-LM was completely foreign to Keynes’s understanding of how an economic model is created in economics because he a was a partial equilibrium, Marshallian and not a general equilibrium Walrasian so that Keynes did NOT incorporate his 1933 formal, mathematical model into the GT because it was impossible to model uncertainty mathematically. Of course, Keynes had successfully modeled uncertainty mathematically in the A Treatise on Probability in both Part II and in chapter 26 with his c coefficient. Unfortunately, both Dimand and Rubin, while catching and rejecting one of J Robinson’s many myths about Keynes, fell for another one of her myths - that Keynes provided no formal mathematical model of IS-LP (LM) in the GT. Of course, it is all there in Section IV of chapter 15 and section IV of chapter 21. Both Dimand and Rubin simply overlooked Keynes’s modeling due to their acceptance of one of the many J. Robinson myths that she created about Keynes and the GT.

PENGEMBANGAN TEORI KEYNESS DALAM JUMLAH KONSUMSI MUSLIM

The objective of this research is to implement the tought of John Maynard Keynes about consumer behavior and also its antithesis. This study takes muslim as a research subject because Islam as a religion own an institution in order to regulate every muslim in doing consume. This research was expected to find out whether the development of Keynes’s theory (thesis and antithesis) could be implemented in muslim community or not. The variables which used in the model are ammount of consumption (Y), income rate (X1), age (X2), religiosity (X3), and distinguishing community (faculty) as a dummy. Through multiple regression with dummy variable method, from 60 muslim respondents in two different community, was found that income rate (X1) and age (X2) was effected positively and significant to ammount of consumption (Y), religiosity (X3) was effected negatively and significant to ammount of consumption (Y), while dummy variable which is distinguishing community (faculty) was not effected significantly to ammount of consumption (Y). Therefore the dummy variable has dropped out from the research model.DOI: 10.15408/sjie.v4i2.2304

Indian Currency and Finance: John Maynard Keynes’s Prismatic View of the International Monetary System

John Maynard Keynes put forward a number of proposals to reshape the international monetary system. Although variegated, they do have one characteristic in common—the rejection of freely flexible exchange rates—which, in a sense, is like a prism refracting the different shades of his many reform plans. This is somewhat puzzling insofar as it clashes with Keynes’s call for activist monetary policy. Indian Currency and Finance sheds light on the origins and arguments underlying this peculiar feature and is accordingly most significant in the development of Keynes’s work on the international monetary system.

From 'A Treatise on Money' to the 'General Theory': John Maynard Keyness Departure from the Doctrine of Forced Saving

I examine John Maynard Keynes’ struggle with the doctrine of the classical forced saving during the period 1924-1936 from when he worked on 'A Treatise on Money' to the completion of his 'General Theory'. The forced saving notion has been developed as a key mechanism of how monetary expansion results in wealth redistribution and change in production in the classical school. I primarily focus on the role of discussion and criticism in the development of Keynes’ thought. I investigate what led John Maynard Keynes to completely abolish ideas related to forced saving and place his emphasis on effective demand in the 'General Theory' and its process. I provide evidence suggesting that the development of the 'General Theory' is closely linked with the abolition of the forced saving doctrine and argue that such notion is internally inconsistent with 'Fundamental Equations' and subsequent theory of effective demand in the explanation of the problem of unemployment.

Recent Japanese Studies in the Development of Keynes's Thought: An Evaluation

Recent Japanese Studies in the Development of Keynes's Thought: An Evaluation

The Development of Keynes’ Theories of Risk in Chapters 26 and 29 of the Treatise on Probability

The Development of Keynes’ Theories of Risk in Chapters 26 and 29 of the Treatise on Probability

Crucial Influences on Keynes’s Understanding of Say’s Law

AbstractKeynes’s General Theory was a full scale attempt to overthrow the influence of Say’s Law on economic theory. The initial idea to attack Say’s Law occurred to Keynes as a consequence of his reading Malthus’s letters to Ricardo in late 1932. Following this initial acquaintance, Keynes read other authors who had discussed Say’s Law in their own works. Amongst these, only J.A. Hobson’s influence is well documented. Two other authors, both American, appear to have been of singular importance: Frederick Taylor and Harlan C. McCracken. This paper explores the influence of Taylor and McCracken on the development of Keynes’s General Theory, with particular reference to their influence on Keynes’s understanding of the meaning of Say’s Law. Also discussed will be the origin of the term “Say’s Law” to describe what had previously been known as “the law of markets” or “theorie des debouches”.

Errata: The Origins of the Keynesian Revolution. The Development of Keynes' Theory of Employment and Output

Errata: The Origins of the Keynesian Revolution. The Development of Keynes' Theory of Employment and Output

The development of Keynes's economics: From Marshall to millennialism

The development of Keynes's economics: From Marshall to millennialism

The Origins of the Keynesian Revolution. The Development of Keynes' Theory of Employment and Output

The Origins of the Keynesian Revolution. The Development of Keynes' Theory of Employment and Output

The Origins of the Keynesian Revolution: The Development of Keynes’ Theory of Employment and Output

(1990). The Origins of the Keynesian Revolution: The Development of Keynes’ Theory of Employment and Output. Journal of Economic Issues: Vol. 24, No. 4, pp. 1186-1189.

The Origins of the Keynesian Revolution: The Development of Keynes's Theory of Employment and Output.

Journal Article The Origins of the Keynesian Revolution: The Development of Keynes's Theory of Employment and Output Get access The Origins of the Keynesian Revolution: the Development of Keynes's Theory of Employment and Output. By W. DIMAND ROBERT. (Aldershot: Edward Elgar, 1988.1 Pp. vii + 213. £25.00 hardback. ISBN 1 85278 062 2.) George Peden George Peden University of Bristol Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 397, 1 September 1989, Pages 887–888, https://doi.org/10.2307/2233795 Published: 01 September 1989

The origins of the Keynesian revolution: the development of Keynes' theory of employment and output

The origins of the Keynesian revolution: the development of Keynes' theory of employment and output

New Materials on the Development of Keynes’ Monetary Thought

New Materials on the Development of Keynes’ Monetary Thought

False Issues in the Interest-Theory Controversy

Previous articleNext article No AccessFalse Issues in the Interest-Theory ControversyE. S. ShawE. S. Shaw Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Journal of Political Economy Volume 46, Number 6Dec., 1938 Article DOIhttps://doi.org/10.1086/255318 Views: 2Total views on this site Citations: 6Citations are reported from Crossref PDF download Crossref reports the following articles citing this article:Pascal Bridel The part played by general equilibrium in the liquidity preference vs loanable funds episode (1936–1956), The European Journal of the History of Economic Thought 28, no.55 (Mar 2021): 753–786.https://doi.org/10.1080/09672567.2021.1893778Giovanni Cesaroni The finance motive, the Keynesian theory of the rate of interest and the investment multiplier, The European Journal of the History of Economic Thought 8, no.11 (Jan 2011): 58–74.https://doi.org/10.1080/713765224S.C. Tsiang Keynes' “Finance” Demand for Liquidity, Robertson's Loanable Funds Theory, and Friedman's Monetarism**This paper is a revised version of a talk given to a seminar at Nuffield College, Oxford, and again to a seminar at York University, England. I am indebted to Sir John Hicks, Fritz Machlup, Paul Samuelson, Maurice Scott, and Michael Sullivan for reading the manuscript and for valuable suggestions for improvement., (Jan 1989): 303–330.https://doi.org/10.1016/B978-0-12-701721-1.50017-XPeter G. McGregor Keynes on Ex-ante Saving and the Rate of Interest, History of Political Economy 20, no.11 (Mar 1988): 107–118.https://doi.org/10.1215/00182702-20-1-107Don Patinkin New Materials on the Development of Keynes’ Monetary Thought, History of Political Economy 12, no.11 (Mar 1980): 1–28.https://doi.org/10.1215/00182702-12-1-1John R. Presley Loanable Funds Versus Liquidity Preference — The Hicks-Hansen Framework, (Jan 1978): 186–215.https://doi.org/10.1007/978-1-349-03239-6_18