Bibliography on George L. S. Shackle

George L. S. Shackle (1903–1992) was an economist who was concerned with exploring the consequences of radical uncertainty – in the sense of Keynesian uncertainty. Amongst those influenced by Shackle’s work was Ludwig Lachmann and the Austrian radical subjectivists.

Shackle owed an important intellectual debt to Keynes, and was generally classified as a hybrid Austrian/Post Keynesian (or someone who drew “Keynesian conclusions from Austrian premises”):

“[sc. Shackle was] a lifelong opponent of the neoclassical theory of the firm, which he regarded as devoid of any relevant notion of human agency and unable to contribute anything to the analysis of entrepreneurial choice. On this and on macroeconomic issues he had much in common with Austrian analysis ... Somewhat surprisingly, however, Shackle did not follow the Austrians and abandon macroeconomics altogether, remaining a Keynesian to the end – the most fundamentalist of all the ‘Fundamentalist Keynesians’” (King 2002: 186–187).

I will start a bibliography here on Shackle and his ideas on uncertainty. I will also update it regularly.


INTERVIEWS

“Interview with G.L.S. Shackle,” Austrian Economics Newsletter, Spring 1983
http://mises.org/journals/aen/shackle.asp

BOOKS

Earl, P. E. and Stephen F. Frowen (eds). 2000. Economics as an Art of Thought: Essays in Memory of G.L.S. Shackle, Routledge, London.

King, J. E. 2002. A History of Post Keynesian Economics since 1936, Edward Elgar Publishing, Cheltenham, UK and Northampton, MA. pp. 185–187.

ARTICLES

Carter, C. 1993. “George Shackle and Uncertainty: A Revolution Still Awaited,” Review of Political Economy 5.2: 127–137.

Ford, J. L. 1993. “G. L. S. Shackle: A Brief Bio-Bibliographical Portrait,” Journal of Economic Studies 12.1/2: 3–12.

Perlman, M. 2005. “Memorialising George L. S. Shackle: A Centennial Tribute,” Cambridge Journal of Economics 29.2: 171–178.

Stephen, F. H. 1986. “Decision Making under Uncertainty: In Defence of Shackle,” Journal of Economic Studies 13.5: 45–57.

Bibliography on Keynesian Uncertainty

It seems to be my week for discussing the concept of uncertainty. This is a basic list of sources for the concept of radical uncertainty in Post Keynesian economics. I will try and update the list too.


BOOKS

Akerlof, G. A. and R. J. Shiller, 2009. Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, Princeton University Press, Princeton.
Note that Akerlof and Shiller are leading New Keynesians. Post Keynesians will not agree with everything in this book.

Barkley Rosser, J. 2001. “Uncertainty and Expectations,” in R. P. F. Holt and S. Pressman (eds), 2001. A New Guide to Post Keynesian Economics, Routledge, London and New York. 52–64.

Davidson, P. 2004. “Uncertainty and Monetary Policy,” in P. Mooslechner, H. Schuberth, M. Schürz (eds), Economic Policy under Uncertainty: The Role of Truth and Accountability in Policy Advice, Edward Elgar, Cheltenham, UK and Northampton, MA.

Davidson, P. 2009. The Keynes Solution: The Path to Global Economic Prosperity, Palgrave Macmillan, New York.

Dunn, S. P. 2008. The ‘Uncertain’ Foundations of Post Keynesian Economics, Routledge, London.

Gerrard, B. 1994. “Animal Spirits,” in P. Arestis and M. Sawyer (eds), The Elgar Companion to Radical Political Economy, Elgar, Aldershot. 15–19.

Glickman, M. 2003. “Uncertainty,” in J. E. King (ed.), The Elgar Companion to Post Keynesian Economics, E. Elgar Pub., Cheltenham, UK and Northhampton, MA. 366–370.

Minsky, H. P. 2008. John Maynard Keynes, McGraw-Hill, New York and London.

Skidelsky, R. 2009. Keynes: The Return of the Master, Perseus Books Group, New York. Chapter 4.


ARTICLES

Barkley Rosser, J. 2001. “Alternative Keynesian and Post Keynesian Perspectives on Uncertainty and Expectations,” Journal of Post Keynesian Economics 23.4: 545–566.

Crocco, M. 2002. “The Concept of Degrees of Uncertainty in Keynes, Shackle, and Davidson,” Nova Economia 12.2: 11–28.

Davidson, P. 1988. “A Technical Definition of Uncertainty and the Long Run Non- Neutrality of Money,” Cambridge Journal of Economics 12: 329–337.

Davidson, P. 1991. “Is Probability Theory Relevant for Uncertainty? A Post Keynesian Perspective,” Journal of Economic Perspectives 5.1: 129–143.

Davidson, P. 1993. “The Elephant and the Butterfly: Or Hysteresis and Post Keynesian Economics,” Journal of Post Keynesian Economics 15.3: 309–322.

Davidson, P. 1996. “Reality and Economic Theory,” Journal of Post Keynesian Economics 18.4: 479–508.

Davidson, P. 2010. “Black Swans and Knight’s Epistemological Uncertainty: Are These Concepts also Underlying Behavioral and Post-Walrasian Theory?” Journal of Post Keynesian Economics 32.4: 567–570.

Dempster, G. M. 1999. “Austrians and Post Keynesians: The Questions of Ignorance and Uncertainty,” Quarterly Journal of Austrian Economics 2.4: 73–81.

Dequech, D. 1999. “Expectations and Confidence under Uncertainty,” Journal of Post Keynesian Economics 21.3: 415–430.

Dixon, R. 1986. “Uncertainty, Unobstructedness, and Power,” Journal of Post Keynesian Economics 8.4: 585–590.

Dunn, S. P. 2001. “Bounded Rationality Is Not Fundamental Uncertainty: A Post Keynesian Perspective,” Journal of Post Keynesian Economics 23.4: 567–587.

Ferderer, J. P. 1993. “Does Uncertainty Affect Investment Spending?” Journal of Post Keynesian Economics 16.1: 19–35.

Ferrari-Filho, F. and O. A. Camargo Conceição. 2005. “The Concept of Uncertainty in Post Keynesian Theory and in Institutional Economics,” Journal of Economic Issues 39.3: 579–594.

Fontana, G. and B. Gerrard, 2004. “A Post Keynesian Theory of Decision Making Under Uncertainty,” Journal of Economic Psychology 25: 619–637.

Glickman, M. 1994. “The Concept of Information, Intractable Uncertainty, and the Current State of the ‘Efficient Markets’ Theory: A Post Keynesian View,” Journal of Post Keynesian Economics 16.3: 325–349.

Hoogduin, L. 1987. “On the Difference between the Keynesian, Knightian and the ‘Classical’ Analysis of Uncertainty and the Development of a More General Monetary Theory,” De Economist 135.1: 52–65.

Keynes, J. M. 1937. “The General Theory of Employment,” Quarterly Journal of Economics 51: 209–223.

Koppl, R. 1991. “Retrospectives: Animal Spirits,” Journal of Economic Perspectives 5.3: 203–210.

Kregel, J. A. 1976. “Economic Methodology in the Face of Uncertainty: The Modelling Methods of Keynes and the Post-Keynesians,” Economic Journal 86.342: 209–225.

Lawson, T. 1985. “Uncertainty and Economic Analysis,” Economic Journal 95: 909–927.

Lawson, T. 1988. “Probability and Uncertainty in Economic Analysis,” Journal of Post Keynesian Economics 11.1: 38–65.

Minsky, H. P. and C. J. Whalen, 1996–1997. “Economic Insecurity and the Institutional Prerequisites for Successful Capitalism,” Journal of Post Keynesian Economics 19.2: 155–170.

Ravetz, J. 1994–1995. “Economics as an Elite Folk Science: The Suppression of Uncertainty,” Journal of Post Keynesian Economics 17.2: 165–184.

Runde, J. 1994. “Keynesian Uncertainty and Liquidity Preference,” Cambridge Journal of Economics 18.2: 129–144.

Rutherford, M. 1984. “Rational Expectations and Keynesian Uncertainty: A Critique,” Journal of Post Keynesian Economics 6.3: 377–387.

Schinckus, C. 2009. “Economic Uncertainty and Econophysics,” Physica A 388.20: 4415–4423.

Setterfield, M. 1998. “Path Dependency and Animal Spirits: A Reply,” Journal of Post Keynesian Economics 21.1: 167–170.

Terzi, A. 2010. “Keynes’s Uncertainty is not about White or Black Swans,” Journal of Post Keynesian Economics 32.4: 559–565.