Development and radical uncertainty
Resource type
Author/contributor
- Feinstein, Osvaldo (Author)
Title
Development and radical uncertainty
Abstract
Development strategies, programmes and projects are designed making assumptions concerning several variables such as future prices of outputs and inputs, exchange rates and productivity growth. However, knowledge about the future is limited. Uncertainty prevails. The usual approach to deal with uncertainty is to reduce it to risk. Uncertainty is perceived as a negative factor that should and can be eliminated. This article presents an alternative approach which recognises that radical uncertainty is irreducible to risk, identifying a positive dimension of uncertainty and showing its implications for development practice.
Publication
Development in Practice
Volume
30
Issue
8
Pages
1105-1113
Date
2020-11-16
ISSN
0961-4524
Accessed
11/07/2022, 10:14
Library Catalogue
Taylor and Francis+NEJM
Extra
Publisher: Routledge
_eprint: https://doi.org/10.1080/09614524.2020.1763258
Citation
Feinstein, O. (2020). Development and radical uncertainty. Development in Practice, 30(8), 1105–1113. https://doi.org/10.1080/09614524.2020.1763258
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