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Rejoinder to Rosser, O'Donnell, and Carrión Álvarez and Ehnts on their criticisms of my ergodic/nonergodic formulation of Keynes's concept of an actuarial certain future vs. an uncertain future

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  • Paul Davidson

Abstract

This article provides my responses to recent criticisms of my argument associating Keynes’s concept of uncertainty with Keynes’s explicit statement that in our world of experience applying the “probability calculus” to historic data does not produce actuarial certain knowledge of future economic outcomes. Furthermore I have tried to explain, using Keynes’ own written statements how Keynes’s General Theory differs from old classical theory, new classical theory, Samuelson’s Keynesian Theory, and New Keynesian Theory.

Suggested Citation

  • Paul Davidson, 2016. "Rejoinder to Rosser, O'Donnell, and Carrión Álvarez and Ehnts on their criticisms of my ergodic/nonergodic formulation of Keynes's concept of an actuarial certain future vs. an uncertain future," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 39(3), pages 308-333, July.
    • Handle: RePEc:mes:postke:v:39:y:2016:i:3:p:308-333
    DOI: 10.1080/01603477.2016.1203728
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    References listed on IDEAS

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    1. Paul Davidson, 1991. "Inflation, Open Economies and Resources," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-11516-7 edited by Louise Davidson, October.
    2. David C. Colander & Harry Landreth (ed.), 1996. "The Coming Of Keynesianism To America," Books, Edward Elgar Publishing, number 451.
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