of the problem of profit will show, however, that the difficulties in Рthis field have arisen from a confusion of ideas which goes deep down into the foundations of our Рthinking. The key to the whole tangle will be found to lie in the notion of risk or uncertainty and Рthe ambiguities concealed therein. It is around this idea, therefore, that our main argument will Рfinally center. A satisfactory explanation of profit will bring into relief the nature of the Рdistinction between the perfect competition of theory and the remote approach which is made to it Рby the actual competition of, say, twentieth-century United States; and the answer to this twofold Рproblem is to be found in a thorough examination and criticism of the concept of Uncertainty, Рand its bearings upon economic processes.
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