A paradox is a logically self-contradictory statement or a statement that runs contrary to one's expectation.It is a statement that, despite apparently valid reasoning from true premises, leads to a seemingly self-contradictory or a logically unacceptable conclusion..
Gibson's paradox is the observed, long-run, positive correlation between interest rates and the price level in Great Britain under the gold standard. Economist John Maynard Keynes dubbed this relationship a paradox because he did not believe that existing economic theories could explain it.
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A paradox is a logically self-contradictory statement or a statement that runs contrary to one's expectation.It is a statement that, despite apparently valid reasoning from true premises, leads to a seemingly self-contradictory or a logically unacceptable conclusion..
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Gibson's paradox is the observed, long-run, positive correlation between interest rates and the price level in Great Britain under the gold standard. Economist John Maynard Keynes dubbed this relationship a paradox because he did not believe that existing economic theories could explain it.
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