Occasional Tweets: Keynes got macroeconomic profit wrong ― economists don't get it to this day ― the greatest possible scientific embarrassement

 

#Macro

(i) Q=I−S Keynes, Treatise → almost correct
(ii) I=S Keynes, GT, recants (i) → BS
(iii) Qre≡I−S Allais, Fondements → correct#Keynes messed up #MacroFoundations because he was too stupid for elementary #Algebra but #Allais got it right. ⇒https://t.co/4xHfLrk6B1 pic.twitter.com/F2iFqEx3mY

— E.K-H (@AXECorg) March 19, 2022

For details of the big picture see cross-references Refutation of I=S.