In economics, nobody likes it but everybody has to live with it: uncertainty. It makes business decisions difficult and wreaks havoc on economic models. This is why mainstream economics oftentimes ignores it and assumes we have complete certainty in economic planning.
In real life, this assumption never pans out, which is part of the reason mainstream economics is notoriously bad at predicting financial crises.
Not so for Horace “Woody” Brock. A mathematical economist by training, he embraced Economics of Uncertainty and founded his consulting firm Strategic Economic Decisions after doing extensive research at Stanford University.
His most recent book is titled “American Gridlock,” where he proposes common sense solutions to economic crises.
The distribution of consumption is morally the only thing that matters.
