The Relationship Between the Treatise on Probability and Kaines's View of Uncertainty

robert kaines became the father of the chicago school, as you know. He just found and found a topic to apply one bit of his treatise on probability. You don't know whether the sun is going to come out or whether it's going to rain. And he said, pessession is probably more likely in the long run than optimism. In other words, people get some naturally sluggish element in in economy because they don't know what's going to happen.