The Post Keynesian, Institutionalist and Heterodox schools of economics have failed for 83 years to discern the … definition of uncertainty given by Keynes in footnote 1 on page 148 of the General Theory that was repeated on page 240 of the … General Theory.The footnotes on page 148 and 240 of the General Theory are the foundation for Townshend's summary of the 1937 …

chapters 6 and 26 of the A Treatise on Probability (1921), page 148, as well as the footnote on page 148, of the General Theory … (1936), and multiple pages of his February, 1937 Quarterly Journal of Economics article. There is no discussion of the … Keynesian-Institutionalist supporters base their Ergodic-Non Ergodic approach to the definitions of uncertainty and risk on the …

from the A Treatise on Probability and confidence from Keynes’s General Theory, as well as Adam Smith’s views on …’s weight of the evidence concept in Keynes’s A Treatise on Probability and confidence concept from Keynes’s General Theory …

Institutionalist schools of economics. Smith also was the first to recognize that uncertainty comes in different degrees or gradations … since Smith wrote his Wealth of Nations in 1776. Smith’s approach to decision theory leads directly to the use of …

founder of modern economics) to John Stuart Mill (“the most influential English language philosopher of the nineteenth century … Great Britain and the United States since the 1500s. The article also covers the use of proverbs in classical economics …