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Michael Emmett Brady : Adam Smith: Essays on Adam Smith, John Maynard Keynes, and their Interval Valued Approaches to Probability, Decision Making, and Uncertainty
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Author: Michael Emmett Brady
Title: Adam Smith: Essays on Adam Smith, John Maynard Keynes, and their Interval Valued Approaches to Probability, Decision Making, and Uncertainty
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Published in: English
Binding: Paperback
Pages: 254
Date: 2015-08-14
ISBN: 1503595234
Publisher: Xlibris
Weight: 0.98 pounds
Size: 0.64 x 6.0 x 9.0 inches
Description: Product Description
Adam Smith's original path-breaking work on decision making, uncertainty, and public policies to minimize the impact of uncertainty in the economy has been overlooked for well over two hundred years. One need only peruse the badly analyzed work of Smith in this area, as presented by Henry D. MacLeod in his The Elements of Political Economy, on pages 212–220, or Henry Sidgwick's The Principles of Political Economy, on pages 359–361, as well as the misevaluations of Smith's contributions made by Jacob Viner in 1927, Joseph Schumpeter in 1954, Murray Rothbard in 1995, or Salim Rashid in 1998 to realize that Smith's important contributions were never recognized. The claim that Smith made no original contributions to economic theory or economics is simply false.
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