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Radical Uncertainty

Radical Uncertainty

Decision-Making for an Unknowable Future

by Mervyn King and John Kay
Paperback
Publication Date: 31/08/2021

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This ambitious and thought-provoking new work offers an overarching analysis of decision-making in all walks of life.

When uncertainty is all around us, and the facts are not clear, how can we make good decisions?

We do not know what the future will hold, particularly in the midst of a crisis, but we must make decisions anyway. We regularly crave certainties which cannot exist and invent knowledge we cannot have, forgetting that humans are successful because we have adapted to an environment that we understand only imperfectly. Throughout history we have developed a variety of ways of coping with the radical uncertainty that defines our lives.

This incisive and eye-opening book draws on biography, history, mathematics, economics and philosophy to highlight the most successful - and most short-sighted - methods of dealing with an unknowable future. Ultimately, the authors argue, the prevalent method of our age falls short, giving us a false understanding of our power to make predictions, leading to many of the problems we experience today.

Tightly argued, provocative and written with wit and flair, Radical Uncertainty is at once an exploration of the limits of numbers and a celebration of human instinct and wisdom.

ISBN:
9780349143996
9780349143996
Category:
Economics
Format:
Paperback
Publication Date:
31-08-2021
Language:
English
Publisher:
Little, Brown Book Group Limited
Country of origin:
United Kingdom
Pages:
560
Dimensions (mm):
198x126x36mm
Weight:
0.3kg
Mervyn King

Mervyn King was Governor of the Bank of England from 2003 to 2013 and is currently Professor of Economics and Law at New York University and School Professor of Economics at the London School of Economics.

Lord King was made a life peer in 2013 and appointed by the Queen a Knight of the Garter in 2014. He is the author of The End of Alchemy.

John Kay

John Kay is 'both a first-class economist and an excellent writer' (Financial Times). He is a visiting professor at the London School of Economics, a Fellow of St John's College, Oxford and director of several public companies.

He contributes a weekly column to the Financial Times. He chaired the UK government review of Equity Markets which reported in 2012 recommending substantial reforms.

He is the author of many books including Obliquity and Other People's Money both published by Profile Books.

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