On certainty and uncertainty, or: How rational can our expectations be?

On certainty and uncertainty, or: How rational can our expectations be? On Certainty and Uncertainty, Or: How Rational Can Our Expectations Be? Hans-Hermann Hoppe The honest historicist would have to say: Nothing can be asserted about the future. Ludwig yon Misesl The future is to all of us unknowable. Ludwig Lsdunann 2 t is possible to imagine a world characterized by complete certaint~ All future events and changes would be known in advance and could be predicted precisely There would be no errors and no surprises. We would know all of our future actions and their exact outcomes. In such a world, nothing could be learned, and accordingl~ nothing would be worth known 8. Indeed, the possession of consciousness and knowledge would be useless. For why would anyone want to know anything if all future actions and events were completely predetermined and it would not make any difference for the future course of events whether or not one possessed this or any knowledge? Our actions would be like those of an automaton--and an automaton has no need of any knowledge. Thus, rather than representing a state of perfect knowledge, complete certainty actually eliminates the value of all knowledge. Obviously, we do not inhabit a world of complete certainty. We cannot http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

On certainty and uncertainty, or: How rational can our expectations be?

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Kluwer Academic Publishers
Copyright © 1997 by The Ludwig von Mises Institute
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
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