G. L. S. Shackle: Possibility

G. L. S. Shackle was British economist. Explore interesting quotes on possibility.
G. L. S. Shackle: 16 quotes0 likes

“Whatever form it takes, the possession of the imaginative gift transforms the problem of accounting for human conduct. For now it is not a question of how given needs are satisfied. Deliberative conduct, choice, the prime economic act, depend for their possibility, when they go beyond pure instinctive animal response to stimulus, upon the conceptual power of the human mind. Choice is necessarily amongst thoughts, amongst things imagined.”

G. L. S. Shackle

Source: Epistemics and Economics. (1972), p. 130

“Before the Treatise, the interest- rate was determined by tastes and objective circumstances, by the persuasibility of income-earners to transfer consumption from the present to the future, and the desire of business men to transfer the means of free enterprise from the future to the present, thus altering the productive possibilities and enlarging the prospective income of the society including themselves.”

G. L. S. Shackle

Source: Epistemics and Economics. (1972), p. 162

“There is little point in demanding minor concessions and relaxations of the abstract, timeless general equilibrium. The light it can throw on human affairs is throw by its most austere and formal version. We are not concerned to ask: How could it possibly work? The useful question is: What does its logical structure imply?”

G. L. S. Shackle

Source: Epistemics and Economics. (1972), p. 150-1