Abstract
This chapter aims to clarify the concept of uncertainty in economic thought. It distinguishes the concepts of risk and uncertainty and their sources within the economy. Finally, the analysis emphasizes the effects of uncertainty on the real economy, which are visible in the shrinking of production and the rising unemployment, to the detriment of the investment climate.
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Petrakis, P.E. (2020). Uncertainty. In: Theoretical Approaches to Economic Growth and Development. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-50068-9_6
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DOI: https://doi.org/10.1007/978-3-030-50068-9_6
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