IDEAS home Printed from https://ideas.repec.org/a/mes/postke/v37y2014i2p233-253.html
   My bibliography  Save this article

Shackle’s potential surprise function and the formation of expectations in a monetary economy

Author

Listed:
  • Andres F. Cantillo

Abstract

G.L.S. Shackle’s potential surprise function attacks the determinism that is central to neoclassical economics. He builds a model of creative individual choice that is nondeterministic and fits well with Keynes’s macroanalysis of monetary economies. Shackle provides a language and a method that allows a translation of originative thoughts into observable actions that can be represented and measured in scalar monetary terms. This provides a bridge between the subjective individual and a nondeterministic macroeconomic outcome. Shackle’s method dovetails with a conventional-evolutionistic approach that is able to explain social context and history under conditions of fundamental uncertainty.

Suggested Citation

  • Andres F. Cantillo, 2014. "Shackle’s potential surprise function and the formation of expectations in a monetary economy," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 37(2), pages 233-253, December.
    • Handle: RePEc:mes:postke:v:37:y:2014:i:2:p:233-253
    DOI: 10.2753/PKE0160-3477370203
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2753/PKE0160-3477370203
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.2753/PKE0160-3477370203?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marina Bianchi & Sergio Nisticò, 2018. "Shackle: an enquirer into choice," Working Papers 2018-03, Universita' di Cassino, Dipartimento di Economia e Giurisprudenza.
    2. Annie Tubadji, 2021. "Culture and mental health resilience in times of COVID-19," Journal of Population Economics, Springer;European Society for Population Economics, vol. 34(4), pages 1219-1259, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:postke:v:37:y:2014:i:2:p:233-253. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MPKE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.