Adam Smith
Essays on Adam Smith, John Maynard Keynes, and their Interval Valued Approaches to Probability, Decision Making, and Uncertainty
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About the Book
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.
About the Author
Michael Emmett Brady received his PhD degree in economics from the University of California. He received his BA and MA degrees from California State University as well as in completing all requirements for a BA in Mathematics. He has done graduate-level work in mathematics.