The Fundamental, Macroeconomic Problem Is Not Uncertainty, Which Knight Stated Can Be Dealt With by ‘Estimates’ and Which Keynes Dealt With by ‘Interval Valued Probability’ and ‘Conventional Coefficients’: It Is the Continued Presence of Adam Smith’s Upper Income Class ‘Prodigals, Imprudent Risk Takers, and Projectors’ (Keynes’s Rentiers and the ‘…Forces of Banking and Finance…’) and Their Negative Impacts on the

Michael Emmett Brady

doi:10.2139/ssrn.3647635

The Fundamental, Macroeconomic Problem Is Not Uncertainty, Which Knight Stated Can Be Dealt With by ‘Estimates’ and Which Keynes Dealt With by ‘Interval Valued Probability’ and ‘Conventional Coefficients’: It Is the Continued Presence of Adam Smith’s Upper Income Class ‘Prodigals, Imprudent Risk Takers, and Projectors’ (Keynes’s Rentiers and the ‘…Forces of Banking and Finance…’) and Their Negative Impacts on the

Michael Emmett Brady

https://doi.org/10.2139/ssrn.3647635

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Journal: SSRN

Publication Date: Jan 1, 2020

Affiliation: California State University, Dominguez Hills

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The Fundamental, Macroeconomic Problem Is Not Uncertainty, Which Knight Stated Can Be Dealt With by ‘Estimates’ and Which Keynes Dealt With by ‘Interval Valued Probability’ and ‘Conventional Coefficients’: It Is the Continued Presence of Adam Smith’s Upper Income Class ‘Prodigals, Imprudent Risk Takers, and Projectors’ (Keynes’s Rentiers and the ‘…Forces of Banking and Finance…’) and Their Negative Impacts on the

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