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This is an intellectual biography of G.L.S. Shackle, economic theorist, philosopher, and historian of economic theory. It explores how Shackle challenged the aims, methods and assumptions of mainstream economics. He stressed macroeconomic instability, and developed a radically subjectivist theory for behavioural economics and business planning.
This is an intellectual biography of G.L.S. Shackle, economic theorist, philosopher, and historian of economic theory. It explores how Shackle challenged the aims, methods and assumptions of mainstream economics. He stressed macroeconomic instability, and developed a radically subjectivist theory for behavioural economics and business planning.
Economics as an Art of Thought by Peter Earl,S FROWEN Pdf
This volume unites scholars from all over the world, and with very different theoretical perspectives. Their chapters probe into typical Shacklean themes of time and money, uncertainty and expectation, and into the roots of G.L.S. Shackle's philosophical and methodological stance.
Expectation, Enterprise and Profit by G. L. S. Shackle Pdf
Production is a complex system of interdependent activities, necessary to the system as a whole, which itself depends on the continuance of each individual activity that composes it. In such a system, resources must be committed to specific technological purposes long in advance to the ultimate sale of goods to the consumer. The success of such an enterprise system rests on the durability of the instruments it uses. These are so complex, sensitive, and powerful that their huge expense can be recovered only if they can be used for many years. Yet when the decision is made to invest in them, those years of use are in the future and the conditioning circumstances are unobservable and unknown. The firm in Western economies is the essential institutional means of confronting this problem of uncertainty, Expectation, Enterprise and Profit: The Theory of the Firm is concerned with the nature and mode of life of the firm as a means of policy formation in the face of uncertainty. This book offers a concise treatment and excellent analysis of the major concepts studied in a first course in the theory of the firm. G. L. S. Shackle (1903-1992) was Brunner Professor of Economic Science at the University of Liverpool and was widely known for a succession of major contributions to economic studies, including Expectation in Economics, Economics for Pleasure, A Scheme of Economic Theory, and The Years of High Theory.
It is Shackle's view that human conduct is chosen with a view to its consequences. But these are in the future, which cannot be directly known. Expectation will confine itself to what is deemed possible, but this leaves it free to entertain widely diverse and rival hypotheses. How can such skeins of mutually conflicting ideas serve the formation of individual or institutional policy? This is the chief question this book examines.
Author : J. L. Ford Publisher : Edward Elgar Publishing Page : 568 pages File Size : 51,5 Mb Release : 1994 Category : Business & Economics ISBN : STANFORD:36105003466690
A biography of the 20th-century economist, George Shackle, whose contributions to issues of time, expectations and uncertainty made his reputation. Shackle opposed equilibrium-centred orthodoxy, concentrating on a concept of time-uncertainty which emphasized the degree of potential surprise.
Uncertainty in Economics and Other Reflections by G. L. S. Shackle Pdf
This book is a collection of some of Professor Shackle's papers written between 1939 and 1953 is largely concerned with the problems of 'expectation' and 'uncertainty' and with reducing these universal factors to some sort of plausible rules. Also included are essays on interest rates, on investment and employment, and on the philosophy of economics. This book, by one of the finest economic writers of his time, will appeal to anyone with an interest in the history of economics.
Unknowledge and Choice in Economics by Stephen F. Frowen Pdf
A collection of papers dicussing unknowledge and choice in economics. The topics focus especially on G.L.S.Shackle's theories and his place in subjectivist thought but also include time, choice and dynamics in economics and interest rates and investment decisions.
Post-Keynesian Theories of the Firm by Nobantu L. Mbeki Pdf
Within Post-Keynesian economics there is a spectrum of approaches to theories of the firm but what they have in common, to their great benefit, is a proper integration of the concept of radical uncertainty: data that cannot be known. This book revisits Kalecki’s theory of the firm is located to show that it constitutes fertile theoretical ground on which to systematically understand the resultant indeterminacy when firms operate under conditions of radical uncertainty. The author proposes a way of generalising radical uncertainty by integrating some of the separate approaches within Post-Keynesian economics centred around Kalecki’s work. Through this, it is shown that radical uncertainty does more than just change the ultimate motivation of firms (dropping short run profit maximisation; more complex motivation; interconnectivity with the environment), it is central to the emergence, existence and motivation of firms, and critically also firm strategy. It is argued that firms do not simply respond to uncertainty: it is the systematic cause of their intentional behaviour. Through developing these arguments, the book also contributes to the methodology of Kalecki and Shackle, as well as Kaleckian price theory. This book will be important reading for anyone interested in theories of the firm, Post-Keynesian economics and heterodox approaches to economics more broadly.
Critics of Enlightenment Rationalism Revisited by Gene Callahan,Kenneth B. McIntyre Pdf
This book provides an overview of some of the most important critics of “Enlightenment rationalism.” The subjects of the volume (including, among others, Pascal, Vico, Schmitt, Weber, Anscombe, Scruton, and Tolkien) do not share a philosophical tradition as much as a skeptical disposition toward the notion, common among modern thinkers, that there is only one standard of rationality or reasonableness, and that that one standard is or ought to be taken from the presuppositions, methods, and logic of the natural sciences. The essays on each thinker are intended not merely to offer a commentary on that thinker, but also to place the person in the context of this larger stream of anti-rationalist thought.
An Encyclopedia of Keynesian Economics, Second edition by Thomas Cate Pdf
Acclaim for the first edition: ÔThis easy-to-read collection . . . tells the whole story. Filled with short, well-written pieces, the encyclopedia covers the names and ideas that preceded Keynes, that carried his work to the center of the profession, and that eventually supplanted him there . . . There are excellent and unexpected articles on the Austrian school, the Lausanne school, and the Ricardo effect. There are well-done pieces on all the basic theoretical models at the heart of Keynesianism . . . [the] volume has been well put together. The editors deserve special praise for letting each contributor tell his own story. Those who oppose KeynesÕs ideas are just as well represented as those who carry the torch for him. This evenhandedness helps to ensure a volume that is truly representative and that will allow its users to get a full picture of the life and times of Keynesian economics.Õ Ð Bradley W. Bateman, Grinnell College, US ÔThe book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.Õ Ð Peter Howitt, The Economic Journal ÔThis book provides an excellent summary of the many strands of ÔKeynesianÕ- style thought both before and after 1936. Its well-considered entries take care to make explicit the assumptions and fundamental points of difference between theories too often concealed by the parents and advocates of specific theories in their zeal to promote the universality of the ideas. There is scarcely an entry that suffers from wordiness and repetition; the readerÕs scarce time is not abused.Õ Ð Elizabeth Webster, Economic Record ÔThis reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.Õ Ð Bogdan Mieczkowski, American Reference Books ÔIt is the best single reference source on Keynesian economics and will be welcomed by students and teachers in economics as well as scholars in related social sciences and government policy makers.Õ Ð Educational Book Review This thoroughly revised and updated second edition of a highly acclaimed and authoritative reference work introduces the major concepts in the field of Keynesian economics. The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail. The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.
Even a decade after the end of the 1914-1918 war, economic theory assumed that the world was tranquil and orderly. By 1939 an economic slump without parallel, allied to the re-emergence of military ambition in Europe, had brought economic theorists face to face with reality. In this classic book, first published in 1967, Professor Shackle provides a study, in exact and professional language, of the precise nature, structure, presuppositions, language and inter-relations of the theories which were formulated in these fourteen years - unparalleled in the whole history of economics except perhaps by the years of the Physiocrats and Adam Smith. These theories are not prototypes on the way to something better but are of essential and permanent importance.
Business, Time and Thought by G. L. S. Shackle Pdf
Economics is as wholly entangled with time as is history. It is within this framework that Professor Shackle takes a critical look at business decisions and in so doing brings the philosophical problems right into the market place.