3min chapter

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A Forgotten Genius — Cheryl Misak

The Joe Walker Podcast

CHAPTER

Ramsey's Impact on the Economics Profession

Ramsey was the founder of expected utility theory, which underpins all economics and most of social science as well. But he was sceptical of it as a way of doing real world economics. He thought that mathematics had a role to play in economics, but was a highly idealized role.

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