"Post Keynesian policy recommendations involve limiting the legal ability of individuals to bargain in the marketplace. Such recommendations include traditional demand management and "incomes" policies designed to stimulate expenditures while stifling free wage bargaining (Snowdon, Vane, and Wynarczyk 1994, pp. 367–82). However, a glaring omission in Davidson's chapter is that the link from the Post Keynesian position on uncertainty to the possibility of government action] to "improve the performance of the economy" is never made. Even if one accepts the view of an economy plagued by an all-encompassing uncertainty and entrepreneurs that act without any good reason for doing so, it still does not follow that government is capable of improving upon the results of this economic process.10 In fact, the Post Keynesians' own vision of pervasive uncertainty would seem to lean against such conclusions, for how, in a world of such uncertainty, could the government possibly form policies that are compatible with full employment and price stability? Under uncertainty, there can be no perfect ex ante knowledge of the relationship between actions and particular outcomes. To claim that government can improve upon free-market outcomes by reducing uncertainty, one must somehow infer that the government is able to obtain information that is unavailable to market participants in regard to future prospects. If Davidson has some reason to believe that government does indeed have access to such information, it is not stated here."
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Gregory M. Dempster, "Austrians and Post Keynesians: The Questions of Ignorance and Uncertainty," The Quarterly Journal of Austrian Economics 2, no. 4 (Winter 1999). Page 80.
https://en.wikiquote.org/wiki/Post-Keynesian_economics
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Post-Keynesian economics
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