Using P. Samuelson’s 1952 Assessment of the Role of Mathematics in Economics To Evaluate Keynes’s Is-Lm Model in Part IV on Pp. 298–299 in Chapter 21 of the General Theory

Abstract

P. Samuelson showed clearly in 1952 that a mathematical economics analysis using abstract symbols can be written out in clear English(or any other language) as well.

Samuelson’s assessment of the interchangeability of a correctly translated mathematical analysis into English was clearly accomplished by Keynes in the presentation of his IS-LM model in Part IV on pp.298-299 in Chapter 21 of the General Theory.

The only two possible conclusions that explain the total failure of macroeconomists since 1936, excluding D. Champernowne, Keynes’s best student, to understand Keynes’s IS-LM model as presented in Part IV on pp.298-299 in Chapter 21 of the General Theory is (a) that they are either very poor applied mathematicians or (b) they have been misled by the Pseudo Keynesians, identified by Terrence Hutchison as consisting of Joan Robinson, Austin Robinson, Richard Kahn, and Roy Harrod in a 1977 Hobart study.