Post-Keynesian macroeconomist Paul Davidson has argued that the central characteristic of the Keynesian view of markets is nonergodicity, which in simple terms implies the lack of an ability to know...

Post-Keynesian macroeconomist Paul Davidson has argued that the central characteristic of the Keynesian view of markets is nonergodicity, which in simple terms implies the lack of an ability to know or forecast the future. How does nonergodicity undermine the efficient market hypothesis?