The concept of degrees of uncertainty in Keynes, Shackle, and Davidson

The aim of this piece is to discuss in what extent one can find - in the works of Shackle and Davidson - an understanding of uncertainty capable of both comprehend the concept of probable knowledge and admit the existence of degrees of 'true uncertainty'. Sharing the opinion of other scholars (Runde, 1990; Dow, 1995, and Dequech, 1997), we think that it is possible to find this definition of uncertainty in Keynes's works, and so make a point to the understanding of uncertainty as a concept feasible to be graded. Moreover, we claim that this concept is not incompatible with the understanding of the social reality as a nonergodic process. To sustain this claim, we will discuss Davidson's and Shackle's views and show that in their writings there are some elements that support our main point.uncertainty, Shackle, knowledge

The concept of degrees of uncertainty in Keynes, Shackle and Davidson

The aim of the paper is to discuss and define a concept of Keynesian uncertainty capable of both to comprehend the concept of probable knowledge and admit the existence of degrees of uncertainty. Although the economic literature have been discussed this concept based on the discussion of the weight of argument that comes from Keynes’s theory of probability, we claim that this discussion must include the analysis of the relevance of the evidence. Moreover, we claim that this concept of uncertainty is not incompatible with Shackle’s concept of crucial decision and the understanding of the social reality as a nonergodic process.Post Keynesian economics; uncertainty; Shackle; Keynes

Technology and the need for an alternative view of the firm in post keynesian theory

Post Keynesian economics; theory of the firm

The future’s unknowability: Keynes’s probability, probable knowledge and the decision to innovate

The aim of this paper is to show that Keynes’s concept of probabilitycan enrich the understanding of the process of introduction of innovation offered by the Neo-Schumpeterian approach. Keynes’s theory of probability can complete the set of tools required to understand the decision process of whether or not to introduce an innovation mainly by complementing the notion of routines.O objetivo deste artigo é mostrar que o conceito keynesiano de probabilidade pode contribuir para o entendimento do processo de introdução de inovações tal qual explicado pela abordagem neo-Schumpeteriana. A teoria da probabilidade de Keynes tem o potencial de completar a caixa de ferramentas necessáriapara analisar a decisão sobre introduzir ou não uma inovação, principalmente ao complementar a idéia de rotinas

Cardio-metabolic risk factors and quality of life in childhood-onset brain tumors with growth hormone deficiency.

Background: Several studies have reported an increased incidence of cardiovascular disease (CVD) in childhood brain cancer survivors (CBCS). Growth hormone (GH) replacement therapy may bring benefits to body composition, cardiovascular outcomes, and quality of life (QoL). However, in CBCS the optimal methodology for investigating the multifaceted aspects of visceral adiposity (VA) and the impact of GH on the cardiometabolic risk parameters, is still under investigation. The aim of the study was to evaluate VA in CBCS with and without GH deficiency (GHD), and its relationship with anthropometric, biophysical and biochemical cardiometabolic parameters. Methods: All CBCS, at least 2 years after the end of therapy, underwent a clinical evaluation including anthropometric measurements, biochemical metabolic profile, endothelial evaluation, body composition evaluation by Dual-energy X-ray absorptiometry (DXA), and QoL assessment. Results: We recruited 48 CBCS with GHD (age 16.6 ± 4.9 years): 40 in treatment with human recombinant growth hormone (hrGH) and 8 not in treatment, and 12 controls (age 14 ± 4.7 years). In our study, insulin-like growth factor 1 (IGF1) standard deviation score (SDS) levels and hrGH daily dose showed a negative correlation with the WC and the main body composition parameters. Despite no significant differences in weight, body mass index (BMI) and waist circumference (WC), when compared to patients with GHD - not in treatment with hrGH, patients being treated with hrGH and patients with normal GH-pituitary function had a different body composition characterized by lower VA, higher HDL and adiponectin levels. The GHD negatively affects the QoL and fatigue perceived by parents compared to children in the "social functioning", "school functioning" and "general fatigue" domains. Conclusion: Our results suggest that GHD is associated with different body composition and higher VA. BMI and WC alone might underestimate the metabolic risk in CBCS. The body composition evaluated by DXA may be a good marker of early cardiometabolic risk in CBCS and could be used to monitor the development of CVD. A tailored therapy with hrGH aimed at achieving a proper body composition might be necessary to reduce cardiovascular risk in GHD children and adolescent cancer survivors

The spatial structure of the financial development in Brazil

This paper explores the financial development in Brazil. It focuses on the impacts of the development level of a municipality’s financial system over its neighborhood, under the light of the Central Place Theory. Using a GMM estimator for a spatial panel model with an endogenous spatial lag and spatial moving average errors we investigate the spatial structure of the financial system in Brazil. The results point to a negative spatial association between the Brazilian municipalities’ financial system, in the way that a municipality with more developed financial system tends to be surrounded by municipalities with less developed financial systems.financial development, spatial structure, bank strategy, Brazil

Differentiated bank strategies across the territory: an exploratory analysis

This paper aims to investigate to what extent there is a differentiated regional bank strategy in the Brazilian economy. Based on the Post Keynesian theory of regional liquidity preference (Dow, 1993), the paper analyses consolidate balance sheets of banks’ branches from several Brazilian regions. Through the analysis of some indicators that were built using the data, the article finds evidence for the thesis that the Brazilian Bank System’s strategy is heterogeneous across space. Furthermore, we conclude that this behaviour reinforces existing uneven regional patterns of development of the economy.bank strategy, regional liquidity preference, regional economics, development.