Probability and Economics

Anna M. Carabelli
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Anna M. Carabelli: University of Pavia

Chapter 9 in On Keynes’s Method, 1988, pp 151-172 from Palgrave Macmillan

Abstract: Abstract In various passages Keynes stressed that most of the economic material possessed the attributes of ‘complexity’ set out in A Treatise on Probability, and were therefore not immediately susceptible to analytical tools (e.g. CW V, p. 88; VII, p. 247; XIV, pp. 121, 286, 294, 300, 316). The best definition of this concept of complexity can be found in A Treatise on Money, where Keynes, referring explicitly to his discussion in Chapter 3 of A Treatise on Probability, explained that the concepts ‘complex or manifold’ were to be understood ‘in the sense that they are capable of variations of degree in more than one mutually incommensurable direction at the same time’ (CW V, p. 88).

Keywords: Economic Agent; Ordinary Language; Moral Science; Economic Scientist; Probability Judgement (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-19414-8_9

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DOI: 10.1007/978-1-349-19414-8_9

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