The philosophy of investment: a Post Keynesian perspective

Abstract

The role of uncertainty in investment decisions is a central concern of Post Keynesian economics. Despite substantive criticisms of security investment strategies that rely on notions from probability theory, Post Keynesians have not provided a detailed model of an investment strategy that would be consistent with the Post Keynesian approach. Working from the contributions of J.M. Keynes, this paper develops the philosophical basis for such an investment strategy.

Keywords:

• efficient markets hypothesis
• investment strategy
• Keynesian uncertainty