No comments about The Correspondence of Alfred Marshall, Economist 3 volume hardback set.

1 comments about Juan Fermin De Aycinena: Central American Colonial Entrepreneur, 1729-1796.

1. Being a descendant of Juan Fermin de Aycinena I became interested in knowing more about the family background. This book not only consists about a biography but also gives a very well elaborated description of the geographical, social, political, religious and economic situation of Guatemala. In a strong manner, the book connects his place of birth with Juan Fermin's "mission" to Central America. I've always been curious about my family's past, and through my grandfather and parents I have been able to know about it. This book opened an even larger door to the first Aycinena who went to Guatemala.

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No comments about A Life of John Julius Angerstein, 1735-1823: Widening Circles in Finance, Philanthropy and the Arts in Eighteenth Century London.

1 comments about Understanding Dennis Robertson: The Man and His Work.

1. Fletcher does an excellent job in this biography.Basically,he shows that Robertson was dominated by a view of economics that required , a priori, that the capitalist system MUST be ultimately viewed as being inherently stable,with built in automatic stabilizers (free markets,wage and price flexibility)that would always automatically function to provide the necessary negative feedback to move the economy back toward the optimal equilibrium.The problem facing economists was to device policies that would tend to mitigate the negative aspects of economic disequilibrium while at the same time making sure that one was not interfering with the inherent market forces that would automatically stabilize the economy by generating negative feedback.
   This explains why Robertson was so opposed to Keynes's marginal propensity to consume and investment multiplier, k , analysis,where the inverse of k is the marginal propensity to invest,since Robertson realized that it entailed positive feedback that would drive an economy deeper into the interior of the Production Possibilities Frontier(PPF).This meant that Robertson would have to deny,on a priori grounds,that there was any paradox of thrift operating in an economy stuck in the interior of the PPF.This then forced Robertson to deny that liquidity preference(the speculative and precautionary demands for money needed to deal with the uncertainty,ambiguity,or vagueness of the economic future) had any role to play in the determination of investment spending.This meant that there could be no uncertainty effects and all expectations were only risky.The rate of interest would automatically equilibrate the private sector economy at the equilibrium position at which all savings had been transformed into some type of durable investment or inventory of goods in the long run.
   
   Fletcher has overlooked one important aspect of Robertson and that was Robertson's mathematical illiteracy.Robertson's mathematical illiteracy,which he admitted in an exchange with Keynes, is on full display in the Jan.-Mar.,1935 exchanges concerning Keynes's D-Z model of chapter 20(and 21) of the General Theory upon which Keynes stated that all his analysis was based.Robertson's many errors,all of which Keynes corrected in the exchanges,i.e,that the D-Z model is distinct from the Y-multiplier model of chapter 10,D is an expected result while Y is the actual,current,or realized outcome,etc.,were dusted off by Robertson and published in the Economic Journal between 1954 and 1956 with an assist from H Johnson.It is here that Z is misdefined as equaling pO,instead of wN+P and D,which actually equals pO,is misdefined as D=C+Iwhen in fact Keynes clearly defined Y=C+I.Of course,both Hawtrey and Robertson were completely shocked when,in 1956,they actually took a look at chapter 20 of the GT and found that D=pO .Sydney Weintraub,Paul Davidson,Douglas Vickers,Jan Kregel,and G C Harcourt took these articles and made them the foundation for the American Post Keynesian and Cambridge Neokeynesian approaches to economic analysis.Robertson's mathematical errors thus live on in the work of the Post Keynesians,Institutionalists,and Cambridge Keynesians.Robertson has thus succeeded in derailing Keynes's General Theory in death,a result he could not achieve while alive.Robertson would be the first to acknowledge the continuing contributions of Davidson and Harcourt in making the Robertson-Johnson interpretation of the GT the foundation of all heterodox interpretations of the GT.Students of Keynes, who wish to learn what Keynes's actual microfoundations were can find the mathematical structure laid out completely in pp.395-399 in the 3rd edition of C E Ferguson's Microeconomic Theory.One need only substitite expected price for actual price and interpret Ferguson's firm results as aggregated results.

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No comments about Entrepreneurs Never Die: They Just Keep on Paying Taxes - The Story of My Life.

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No comments about Finding My Way: And How You Can Find Yours.