In The General Theory of Employment, Interest, and Money (1936), John Maynard Keynes quietly drew attention to the link connecting the volume to his earlier Treatise on Probability (1921): both books are centrally concerned, albeit from different perspectives, with the rationality of behavior under conditions of uncertainty. The relationship between the two books did not come under sustained scrutiny until after the publication of his collected writings in the 1970s, but by now there is a considerable literature on the topic.
In a new book, Keynes on Uncertainty and Tragic Happiness: Complexity and Expectations (2021), Anna M. Carabelli offers a clear and bold interpretation of the relationship between the philosophy of the Probability and the economics of The General Theory, taking the position that Keynes introduced his own original method of investigation in the Probability that he later applied in The General Theory: “In this book I will...
