Research Catalog

G.L.S Shackle / Peter E. Earl, Associate Professor of Economics, University of Queensland, Australia, and Bruce Littleboy, Senior Lecturer in Economics, University of Queensland, Australia ; with a contribution by Michael Jefferson, Visiting Professor of Economics, University of Buckingham, UK.

Title: G.L.S Shackle / Peter E. Earl, Associate Professor of Economics, University of Queensland, Australia, and Bruce Littleboy, Senior Lecturer in Economics, University of Queensland, Australia ; with a contribution by Michael Jefferson, Visiting Professor of Economics, University of Buckingham, UK.
Author: Earl, Peter E.
Publication: Houndmills, Basingstoke, Hampshire ; New York, NY : Palgrave Macmillan, 2014.

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Request for On-site Use Request Scan How do I pick up this item and when will it be ready?	Text	Request in advance	HB103.S47 E27 2014	Off-site

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Description

ix, 246 pages; 23 cm

Summary

This intellectual biography of G.L.S. Shackle, economic theorist, philosopher, explores his radical ideas, which deserve attention today. Shackle challenged the aims, methods and assumptions of mainstream economics. He remains the sole poet and mystic of economics. He sought to replace probabilistic, equilibrium-focused economics with an approach that focuses on imagined possibilities and potential for sudden 'kaledic' change. His richly psychological thinking complements core ideas in behavioural economics and his philosophy of uncertainty has lessons for planners and entrepreneurs. Shackle's radically subjectivist theory of crucial choice under conditions of deep uncertainty contributed to modern corporate scenario planning. He stressed macroeconomic instability and the possibility of complete surprise. Shackle devised a 'kaleidic' economics in which tiny changes in events or in expectations lead to cascading change. In an era buffeted by the 'unknown unknowns', Shackle offers wise advice and supports promising developments in contemporary economics. His core ideas complement and in some areas anticipated the 'bounded rationality' perspective of Herbert Simon and the psychological economics of Daniel Kahneman. He drew insightfully from the great economists he knew and admired, such as Friedrich von Hayek and John Maynard Keynes.

Series Statement

Great thinkers in economics

Subject

Genre/Form

Biographies
History

Bibliography (note)

Includes bibliographical references and index.

Processing Action (note)

committed to retain

Contents

Life and vision -- Shackle's economics -- Possibility versus probability : the rhetoric of choice -- Potential surprise and choice -- Critical perspectives on Shackle's theory -- Making sense of diversification -- Shackle and behavioural economics -- Lessons for economists, entrepreneurs and business schools -- The passage of time : Shackle, Shell and scenarios / Michael Jefferson.

ISBN

9781137281852
1137281855

LCCN

^^2014018851

OCLC

869852324
SCSB-10570056

Owning Institutions

Harvard Library