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" Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than on a mathematical expectation, whether... "
A History of Post Keynesian Economics Since 1936 - Page 13
by J. E. King - 2002 - 316 pages
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Macroeconomics Under Debate

Alan S. Blinder - Business & Economics - 1989 - 199 pages
...This attitude, it seems to me. would not have appealed to Keynes. who wrote (1936. pp. 161-2): ... a large proportion of our positive activities depend...optimism rather than on a mathematical expectation . . . Only a little more than an expedition to the South Pole, is it based on an exact cak-ulation...
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Thoughtful Economic Man: Essays on Rationality, Moral Rules and Benevolence

J. Gay Tulip Meeks - Business & Economics - 1991 - 160 pages
...there might not be much investment merely as a result of cold calculation' (GT, p. 150). Indeed, it is: characteristic of human nature that a large proportion...expectation, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn...
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Literature and Rationality: Ideas of Agency in Theory and Fiction

Paisley Livingston - Literary Criticism - 1991 - 256 pages
...stress on the role of confidence in determining the stability and instability of economic activity: [A] large proportion of our positive activities depend...expectation, whether moral or hedonistic or economic . . . Enterprise only pretends to itself to be mainly actuated by the statements in its own prospectus,...
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Alliance Capitalism: The Social Organization of Japanese Business

Michael L. Gerlach - Social Science - 1997 - 350 pages
...mine or a farm, there might not be much investment merely as a result of cold calculation. [P. 150.] [A] large proportion of our positive activities depend...expectation, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn...
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Economics and the Antagonism of Time: Time, Uncertainty, and Choice in ...

Douglas Vickers - Business & Economics - 1994 - 272 pages
...nonprobabilistic sense. In any event. Keynes argued in the General Theory that there is the instability due to the characteristic of human nature that a large...expectation, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn...
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John Maynard Keynes, Critical Assessment: Second series

John Cunningham Wood - Keynesian economics - 1994 - 607 pages
...and 'animal spirits'. Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large...expectation, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn...
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Biography of an Idea: John Maynard Keynes and the General Theory of ...

David Felix - Economic history - 1995 - 285 pages
...undercutting it. Like the marginal efficiency of capital, it defeated prudent calculation to a great extent "due to the characteristic of human nature that a...optimism rather than on a mathematical expectation." He concluded with a phrase that has become part of contemporary idiom: "Most, probably, of our decisions...
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Employment, Unemployment and Wages in Turkey

Tuncer Bulutay - Education - 1995 - 358 pages
...should be pointed out:"Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large...expectation, whether moral or hedonistic or economic. Most,probably, of our decisions to do something positive, the full consequences of which will be drawn...
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Out of the Margin: Feminist Perspectives on Economics

Edith Kuiper, Jolande Sap, Susan Feiner, Notburga Ott, Zafiris Tzannatos - Business & Economics - 1995 - 306 pages
...necessary to make rational decisions, the primary spur to action is one's emotion. As he indicates: "a large proportion of our positive activities depend...expectation, whether moral or hedonistic or economic" (Keynes 1964: 161). Elucidating this point further, Keynes writes: We are merely reminding ourselves...
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Understanding Economics

Vicky Allsopp - Business & Economics - 1995 - 465 pages
...'reading' of such material. Keynes argued that, most probably, due to the characteristics of human nature: a large proportion of our positive activities depend...optimism rather than on a mathematical expectation ... a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average...
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