Uncertainty in Economics and Other ReflectionsThis 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. |
Contents
Probability and uncertainty | 3 |
I | 17 |
The logic of surprise | 56 |
Three versions of the psurface | 75 |
The nature of interestrates | 105 |
Interestrates and the pace of investment | 128 |
The multiplier in closed and open systems | 147 |
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Uncertainty in Economics, and Other Reflections G L S (George Lennox Shar Shackle No preview available - 2021 |
Common terms and phrases
31 December aggregate income amongst annum assigned assume assumption Ax₁ bonds column comparative statics concerned consumption consumption function consumption-spending course of action curve decision decision-maker direct tax disbursement dividends dividends tax divisible experiment economic theory economist employment enterpriser enterpriser's equal equilibrium equipment ex ante ex post excess profits tax Expectation in Economics extra firms focus-gain focus-loss frequency-ratios future G. L. S. SHACKLE gain gambler indifference-map given idea imagined increase increment individual individual's inflative index interest-rate interval investment logical loss marginal propensity mathematical means measure ment mind multiplier Myrdal's net investment non-divisible non-excluded number of banknotes numerical probability outcome output p-surface particular perhaps plausible possible production propensity to consume quantity question receipts represent result rival hypotheses sense seriable suppose Theory of Employment time-rate tion trial uncertainty unit interval valuation value theory whole yield zero potential surprise