RE: Davidson's seminar

[Kevin Quinn <kquinn@xxxxxxxxxxxx>]

Partly under the influence of Bill Mitchell's withering critiques, I'm
starting to rethink the PKian line on radical or ontological uncertainty.
Bill has tirelessly pointed out the policy nihilism implied in this
position. There was certainly a strain in Keynes that adopted this
radical uncertainty theme. But--and this occurred to me rereading Ch.12
after Paul's seminar--another strain in Keynes tied uncertainty not to
ontology but to decentralized markets and especially to organized
secondary markets for financial assets. In focusing on the first strain
alone, PKers follow Shackle and in effect "Austrianize" Keynes. The very
anti-Austrian theme in at least some of Keynes is that markets may not
simply fail to inform, but positively disinform; that they may
dis-coordinate rather than coordinate.