FOLIO I · THINKER · GEN. 04 · N° 044

G.L.S. Shackle

Works
15
Articles
88
Generation
4.
Portrait of G.L.S. Shackle
FOL. 04 · N° 044 · G.L.S. Shackle
BIOGRAPHY

Life and Work

Shackle's father was a mathematics teacher and prepared John Maynard Keynes for a scholarship to Eton College. Because his parents could not afford to support him during his studies, he worked as a bank clerk. While training as a teacher, he studied on the side for a BA degree at the University of London, which he obtained in 1931. He began his doctoral thesis under the supervision of Friedrich Hayek at the LSE, but then turned to an interpretation of Keynes's General Theory of Employment, Interest and Money. He was awarded his doctorate in 1937. After several academic posts, Shackle was appointed, following the outbreak of the Second World War in 1939, to the S-Branch, Winston Churchill's inner circle of economists. After the war he held the Brunner Chair at the University of Liverpool until his retirement in 1969. Having begun his doctoral thesis under Hayek, Shackle subsequently turned to radical subjectivism and pushed it to the point of nihilism.
Metadata
14. Juni 1903
3. März 1992
Generation 4
Life stations

Stations

  1. 1903
    1903
    Birth

    Born on 14 July 1903 in Cambridge. His father was a mathematics teacher and prepared John Maynard Keynes for a scholarship at Eton College.

  2. 1914
    1914
    Perse School, Cambridge— inferred

    Attended the Perse School in Cambridge but had to abandon his studies for financial reasons and worked as a bank clerk.[1]

  3. 1931
    1931
    BA Degree, University of London

    Since his parents could not support him, Shackle worked as a bank clerk and, while training as a teacher, studied on the side for a BA degree at the University of London, which he obtained in 1931.

  4. 1937
    1937
    Doctorate at the LSE

    Began his doctoral thesis under Friedrich Hayek at the LSE, then turned to an interpretation of Keynes's General Theory of Employment, Interest and Money. Doctorate in 1937.

  5. ⁦1939–1945⁩
    ⁦1939–1945⁩
    Appointment to the S-Branch

    Appointed in 1939, after the outbreak of the Second World War, to the S-Branch, Winston Churchill's inner circle of economists.

  6. ⁦1945–1950⁩
    ⁦1945–1950⁩
    Cabinet Office and University of Leeds— approximate

    After the end of the war, posts at the Cabinet Office and the University of Leeds before his appointment to Liverpool.[1]

  7. ⁦1951–1969⁩
    ⁦1951–1969⁩
    Brunner Chair, University of Liverpool

    Holder of the Brunner Chair of Economics at the University of Liverpool from 1951 until his retirement in 1969.

  8. 1992
    1992
    Death

    Died on 3 March 1992 at the age of 88 in Aldeburgh, Suffolk; his scholarly papers are held in the Cambridge University Library.

Relationships

Influences

Influenced by · 3
  1. —
    —

    Shackle begann seine Doktorarbeit unter der Leitung Friedrich Hayeks an der LSE, wechselte dann allerdings zu einer Interpretation von Keynes' General Theory of Employment, Interest and Money und erlangte den Doktorgrad 1937.

  2. —
    —
    Gunnar Myrdal⁦(1898–1987)⁩ · Schwedische Schule

    Gunnar Myrdal influenced Shackle's thinking especially with regard to the ex-ante / ex-post analysis.[1]

  3. —
    —
    John Maynard Keynes⁦(1883–1946)⁩ · Cambridge School

    During his doctoral work, Shackle switched to an interpretation of Keynes' General Theory of Employment, Interest and Money.

G.L.S. Shackle in the context of the School as a whole: five generations, their teacher-student lineages, circles and collegial ties.

SOURCES ON STATIONS AND RELATIONSHIPS4 citations · 1 source
  • [1]Earl: G. L. S. Shackle (Palgrave-Biographie) · 3×
  • [2]Shackle: A Student's Pilgrimage (Selbstbiographische Rückschau)
Topography

Places of Activity

CATALOGUE OF WORKS · CHRONOLOGICAL

The Books

1930s
1938
Expectations, Investment and Income
OriginalEnglish
1940s
1949
Expectations in Economics
OriginalEnglish
1950s
1952
Mathematics at the Fireside
OriginalEnglish
1958
A New Prospect of Economics
OriginalEnglish
1960s
1967
The Years of High Theory: Invention and Tradition in Economic Thought 1926-1939
OriginalEnglish
1968
A Scheme of Economic Theory
OriginalEnglish
Economics for Pleasure
OriginalGerman
Expectations Investment and Income
OriginalEnglish
1969
Decision order and time in human affairs
OriginalEnglish
1970s
1970
This textbook develops a theory of the firm, the policy-making centre that decides what to produce, in what quantities, and by what combination of inputs. Shackle first sets out the orthodox apparatus of maximizing under full knowledge: the measurement of production, Leontief input-output matrices, production functions, cost and revenue curves, and the condition of marginal cost equal to marginal revenue first stated by Cournot. He then turns to his central theme, decision under uncertainty. Because investment commits durable equipment to an unknowable future, the businessman cannot rely on probability, which presupposes repeatable experiments. Shackle proposes instead potential surprise, ascendancy and focus values, and applies them to discounting, the scale of investment, borrowing, interdependent decision-making in duopoly, and bargaining as analysed by Edgeworth. A concluding chapter arranges the resulting concepts of profit and equilibrium into a single scheme.
OriginalEnglish
ARTICLES · 88 CATALOGUED

Essays, Reviews, Lectures

1930s
1933
Some notes on monetary theories of the trade cycle
OriginalEnglish
1936
The breakdown of the boom: a possible mechanism
OriginalEnglish
1937
Dynamics of the crisis: a suggestion
OriginalEnglish
1938
[Rezension zu] A. Dahlberg: When Capital goes on Strike
OriginalEnglish
1939
[Rezension zu] H. S. Dennison u. a.: Toward Full Employment
OriginalEnglish
[Rezension zu] R. J. Saulnier: Contemporary Monetary Theory
OriginalEnglish
Expectations and employment
OriginalEnglish
The multiplier in closed and open systems
OriginalEnglish
1940s
1940
[Rezension zu] Erik Lindahl: Studies in the Theory of Money and Capital
OriginalEnglish
[Rezension zu] John Strachey: A Programme for Progress
OriginalEnglish
APA
Chicago
German historical style