Uncertainty by Keynes

Explain what uncertainty a la Keynes/Knight is and why has it traditionally necessitated the role of the state to promote long-term innovations?
If investment is a function of the marginal efficiency of capital (= expected profit rate – interest rate), can you explain why private corporations and venture capitalists have been hesitant to finance very long-term “nation-building” investments (general purpose technologies such as say electricity or the internet), leaving it to the State to promote such areas?

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