Opposed though he was to mechanical applications of the laws of probability and the quantification of uncertainty, Keynes recognized that this body of thought had profound implications for humanity: The importance of probability can only be derived from the judgment that it is rational to be guided by it in action; and a practical dependence on it can only be justified by a judgment that in action we ought to act to take some account of it. It is for this reason that probability is to us the “guide of life,” since to us, as Locke says, “in the greatest part of our concernment, God has afforded
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