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Radical Uncertainty - Mervyn King
The Joe Walker Podcast
The Importance of Subjectivist Probabilities in Economics
Ramsi argued that people have subjective probabilities which they can attach to every conceivable future event. But in real life we don't always have to take bets, says Warren Buffets. Once you drop the assumption then you're in a world of radical uncertainty and none of the arguments rams are used hold true I say.
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