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8. The Post Keynesian school Paul Davidson*

human decisions affecting the future, whether personal or political or economic,

cannot depend on strict mathematical expectation, since the basis for making such

calculations does not exist … it is our innate urge to activity which makes the

wheels go round, our rational selves choosing between the alternatives as best we

are able, calculating where we can, but often falling back for our motive on whim

or sentiment or chance. (Keynes, 1936, pp. 162–3)