Brexit’s Keynesian Lesson: Fundamental Uncertainty Revisited

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“About these matters there is no scientific basis on which to form any calculable probability whatever. We simply do not know.”

An economist’s words but not meant to be a description of where things stand today in the aftermath of the Brexit referendum, though they might as well be. These are Keynes’s words from a 1937 article following the publication of his magnum opus, The General Theory of Employment, Interest and Money in 1936.Read More »