KEYNES’S TREATISE, STATISTICAL INFERENCE, AND STATISTICAL PRACTICE IN INTERWAR ECONOMICS IN THE UNITED STATES
Jeff E. Biddle
Abstract:In his Treatise on Probability John Maynard Keynes criticized the tools of statistical inference derived from probability that were coming into use in the early twentieth century, and outlined an alternative approach to statistical inference based on the logic of induction. This essay argues that Keynes’s ideas were embraced and echoed by several leading US economists during the 1920s and 1930s, including those developing and applying the most sophisticated statistical methods of the day. These economists expr… Show more
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