G.L.S. Shackle (Great Thinkers in Economics) (Hardcover)

G.L.S. Shackle (Great Thinkers in Economics) Cover Image
Usually Ships in 1-5 Days


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.

About the Author

Peter Earl is a former co-editor of the Journal of Economic Psychology and is Associate Professor of Economics at the University of Queensland, Australia. His many books include Economics as an Art of Thought: Essays in Memory of G.L.S. Shackle (2000) (editor, with Stephen Frowen). Bruce Littleboy is Senior Lecturer in Economics at the University of Queensland, Australia. He wrote On Interpreting Keynes (1990) and was awarded a Shackle Studentship at St Edmund's College Cambridge in 2011.

Product Details
ISBN: 9781137281852
ISBN-10: 1137281855
Publisher: Palgrave MacMillan
Publication Date: June 6th, 2014
Pages: 246
Language: English
Series: Great Thinkers in Economics

Audiobooks available!

Digital Audio Books

Get a Gift Card

Gift Cards

CopperBox Book Subscription


Nine Stores in Sonoma, Napa and Marin Counties

Petaluma Store

140 Kentucky Street
click for hours & info


140 Kentucky Street
click for hours & info

Sebastopol Store

138 N.Main Street
click for hours & info

Santa Rosa Store

(Montgomery Village)
775 Village Court
click for hours & info

Healdsburg Store

104 Matheson Street
click for hours & info

Napa Store

1300 First Street, Suite 398

click for hours & info

Calistoga Store

1330 Lincoln Avenue
click for hours & info

San Rafael Store

1200 4th Street

click for hours & info

Novato Store

999 Grant Avenue
Suite 105
(415) 763-3052
click for hours & info

Larkspur Store
2419 Larkspur Landing Circle
(415) 870-9843
click for hours & info

Headquarters (Offices)

139 Edman Way 
click for hours & info