Davidson's claim that" Keynes (1937) simply described uncertainty as occurring when there is no scientific basis to form any calculable probability"(Davidson,p.11) is simply incomplete.The reason why "...there is no scientific basis to form any calculable probability"...is because the weight of the evidence,w, is < 1.The additivity condition of the purely mathematical laws of the probability calculus can't be applied unless w=1.Data is thus missing and the problem is indeterminate. George Boole dealt extensively with indeterminate probabilities in 1854 in his The Laws of Thought in chapters 16-21.Only Keynes mastered this material .This was pointed out by Theodore Hailperin in his 1986 book. Keynesian uncertainty is identical to the indeterminate probabilities of George Boole.Keynes's logical theory of probability is built on Boole's approach.
Keynesian uncertainty has nothing to do with either Kolmogorov's axioms of additivity or countable additivity or with his measure theory ,which is the foundation for Kolmogorov's analysis of the ergodic -non-ergodic distinction,concepts which can only occur and be applied in the very long run.
Davidson has simply mislead heterodox economists for some 33 years.
Until this is absorbed by the writers of this book, ,no progress will be made
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