John Kay and Mervyn King on Radical Uncertainty

John Kay, a prominent economist and author known for his critical views on economic models, joins Mervyn King, former Governor of the Bank of England, to discuss their co-authored work, 'Radical Uncertainty.' They delve into the pitfalls of relying on numerical probabilities in decision-making, especially highlighted by the COVID-19 pandemic. The conversation critiques traditional economic rationality, emphasizing the unpredictability of human behavior and the emotional toll of uncertainty. They advocate for adaptability and a multifaceted approach to understanding complex economic scenarios.