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Elasticities of Surprise in the Concept of Policy

In: Money and Banking

Author

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  • G. L. S. Shackle

Abstract

The lodestar of successful business is the imagined deemed possible. To conceive the unprecedented in diverse forms as rival uses for his resources, and to turn imagination to critical study of the possible best and the possible worst result of each imagined enterprise, is the businessman’s counterpart of high chivalry. Its enlightened heresy lies in its epistemic assumptions and principles.

Suggested Citation

  • G. L. S. Shackle, 1993. "Elasticities of Surprise in the Concept of Policy," Palgrave Macmillan Books, in: Philip Arestis (ed.), Money and Banking, chapter 1, pages 1-6, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-13319-2_1
    DOI: 10.1007/978-1-349-13319-2_1
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