Keynes wrote in The General Theory If we speak frankly, wehave to adm...

Keynes wrote in The General Theory: â€œIf we speak frankly, we have to admit that our...

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Economics

Keynes wrote in The General Theory: â€œIf we speak frankly, wehave to admit that our basis of knowledge for estimating the yieldten years hence of a railway, a copper mine, a textile factory â€¦amounts to little and sometimes to nothingâ€
Keynes was not talking about periods of turmoil and crisis whenit might be expected that accurate information would be hard tocome by; in his view, a state of â€œnear ignoranceâ€ was the normalstate of affairs.
Discuss Keynesâ€™ concept of â€œuncertainâ€ knowledge andwhat it may imply for our ability to measure risk and to invest,both in financial assets as well as in â€œrealâ€businesses.

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Keynes concept of uncertain knowledge states that there is a difference between risk and uncertainty Risk is when there can be some form of insurance whereas uncertainty cannot be insured See Answer

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