The famous economist J M Keynes observed "In the long run we are all dead".Which of the following is demonstrated by this statement?
A)Keynes was a victim of the law of large numbers.
B)Keynes was a victim of the gambler's fallacy.
C)Keynes, being an economist and not a psychologist, did not understand the central limit theorem.
D)Keynes's statement is a prediction and we should ignore it unless it is testing a theory or it is associated with a significant p-value.
E)None of the above.

Question

Quizplus · Accepted Answer

Keynes's statement is often interpreted to mean that economic policies should focus on addressing current problems rather than being overly concerned with potential long-term effects, as the long-term future is uncertain and unpredictable. It does not directly relate to the law of large numbers, gambler's fallacy, central limit theorem, or the significance of predictions in testing theories.

The Famous Economist J M Keynes Observed "In the Long