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p. 382. Keynes's philosophy of practicelocked

  • Robert Skidelsky

Abstract

In many ways, Keynes was more interested in philosophy than economics. Philosophy informed his views on economics. ‘Keynes's philosophy of practice’ looks at his philosophical views. He was the product of an atheistic generation. Fundamental to his philosophy was his intuitionist epistemology. He regarded intuition, rather than sense experience, as the foundation of knowledge. Keynes asked what are the principles of rational choice and action when the future is unknown or uncertain? The point, above all, that Keynes wanted to establish was that our knowledge of probabilities is more extensive than our knowledge of frequencies.

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