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4min chapter
Radical Uncertainty - Mervyn King
The Joe Walker Podcast
The Importance of Narratives in Economics
Economists have jumped too readily to the idea that being rational can be deduced from a set of axioms, says John Maynard Keynes. He argues it's not rational to optimize in a world where optimizing is not the rational thing to do or can't be defined. This is a classic example of looking under the lamp in the light to find something you search in a very narrow area because that's where the light is he adds.
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