tag:blogger.com,1999:blog-1740670447258719504.post8784373137250551906..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: It's probably good that that one was cut! Galbraith and KeynesEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-1740670447258719504.post-9586541745190653682013-08-20T00:28:38.826-04:002013-08-20T00:28:38.826-04:00Just so you know, you can put your name and websit...Just so you know, you can put your name and website address in the "Name/URL" category provided.Blue Aurorahttps://www.blogger.com/profile/02044362251868221897noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-60710300203665043442013-08-20T00:14:23.668-04:002013-08-20T00:14:23.668-04:00Dear Daniel,
J M keynes never stated what J K Gal...Dear Daniel,<br />J M keynes never stated what J K Galbraith claims he stated at any time in his life.Michael Emmett BradyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-35392468825677171562013-08-19T17:14:09.577-04:002013-08-19T17:14:09.577-04:00This comment has been removed by the author.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-17242621573364666992013-08-19T17:13:57.609-04:002013-08-19T17:13:57.609-04:00"Word choice can make or break you with Bob&q..."Word choice can make or break you with Bob"<br /><br />Indeed. Yet somehow I slip through the cracks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-75539778840416685682013-08-19T16:37:15.427-04:002013-08-19T16:37:15.427-04:00Daniel,
Here's my response:
http://econlog.eco...Daniel,<br />Here's my response:<br />http://econlog.econlib.org/archives/2013/08/galbraiths_crit_1.html<br />Best,<br />DavidDavid R. Hendersonhttps://www.blogger.com/profile/02927325694778972407noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-3702490124004832302013-08-19T15:10:22.326-04:002013-08-19T15:10:22.326-04:00He's just yanking your chain over the comment ...He's just yanking your chain over the comment the other day where you very strenuously argued that Hayek had little influence.<br /><br />Word choice can make or break you with Bob :)Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-87972374483250651772013-08-19T14:38:54.604-04:002013-08-19T14:38:54.604-04:00Kevin Donoghue: I'll check again, but if you&#...Kevin Donoghue: I'll check again, but if you're correct on that point about the aggregate supply function's w-subscript notation (and I believe that's quite possible you are), allow me to thank you in advance. Out of curiosity, did you check the three articles published in Australia's <i>History of Economics Review</i> in 1994, 1995, and 1996? They were written by Dr. Michael Emmett Brady.Blue Aurorahttps://www.blogger.com/profile/02044362251868221897noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-64734247796066255822013-08-19T14:16:54.107-04:002013-08-19T14:16:54.107-04:00It's Greg's theory, not mine. Is there evi...It's Greg's theory, not mine. Is there evidence for it in Hayek's writings?Kevin Donoghuehttps://www.blogger.com/profile/07534540865029864916noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-37111938703514247382013-08-19T14:11:41.166-04:002013-08-19T14:11:41.166-04:00Thanks, Daniel. Just got back from the great whit...Thanks, Daniel. Just got back from the great white north and couldn't land in Monterey due to fog, so landed at SFO and shuttled down. Bottom line: I just saw this. Will ponder and respond. David R. Hendersonhttps://www.blogger.com/profile/02927325694778972407noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-1364921848904172962013-08-19T14:06:03.713-04:002013-08-19T14:06:03.713-04:00Your recollection is faulty. The w-subscript is fo...Your recollection is faulty. The w-subscript is for quantities measured in wage-units rather than money.Kevin Donoghuehttps://www.blogger.com/profile/07534540865029864916noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-19641351644404721422013-08-19T13:17:44.248-04:002013-08-19T13:17:44.248-04:00Wait a minute... How could Hayek have influenced w...Wait a minute... How could Hayek have influenced what anybody thought about Keynes? Or is JKG Hayek's mother?Bob Murphyhttps://www.blogger.com/profile/04001108408649311528noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-29778993758697289652013-08-19T11:54:48.673-04:002013-08-19T11:54:48.673-04:00"Recently commenter Blue Aurora asked me some..."<i>Recently commenter Blue Aurora asked me something about the</i> General Theory <i>that directed me back to Book V. In discussing Pigou there Keynes makes exactly the opposite claim - he's talking about the employment functions of different industries which he assumes are different.</i>"<br /><br />Can you please point me to the particular statement which <i>*FINALLY*</i> seems to have gotten you back to rereading Book V of <i>The General Theory</i> carefully? Even if you still haven't proven it for yourself the slope of the aggregate supply function or the constant of integration for the aggregate supply function...<br /><br />Speaking of that - one can say that J.M. Keynes made a slip of the pen. In Footnote 2 on Pages 55-56 (which is in Chapter 6 of the book), J.M. Keynes uses the term "aggregate supply curve" and "aggregate supply function". They are *NOT* the same. However, the employment function and the aggregate supply curve *ARE* one and the same (to Daniel Kuehn and any future 'History of Economic Ideas' students of him at American University, please see the following pieces published in the <i>History of Economics Review</i>: Brady 1994, Brady 1995, and Brady 1996).<br /><br />Keynes uses Z-subscript r to denote the supply function for the level of the firm, Z-subscript w to denote the aggregate supply function for industry, and simply Z for the aggregate supply curve/employment function for the economy as a whole, IIRC.Blue Aurorahttps://www.blogger.com/profile/02044362251868221897noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-42752023157349443942013-08-19T09:04:00.704-04:002013-08-19T09:04:00.704-04:00The comment by Greg Ransom on David Henderson'...The comment by Greg Ransom on David Henderson's post may provide a clue: "Galbraith participated in Hayek's faculty and grad student seminar at the LSE -- this sort of criticism would have been second nature for anyone with that background."<br /><br />So maybe the place to look is in Hayek's writings; i.e., maybe Hayek taught Galbraith <em>his</em> version of Keynes. But I'm surprised Galbraith hadn't outgrown that by 1941.<br /><br />Kevin Donoghuehttps://www.blogger.com/profile/07534540865029864916noreply@blogger.com