FOLIO I · THINKER · GEN. 04 · N° 044
G.L.S. Shackle
Works
15
Articles
69
Generation
4.
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
- 1903Birth
Born on 14 July 1903 in Cambridge. His father was a mathematics teacher and prepared John Maynard Keynes for a scholarship at Eton College.
- 1914Perse 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]
- 1931BA 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.
- 1937Doctorate 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.
- 1939–1945Appointment 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.
- 1945–1950Cabinet 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]
- 1951–1969Brunner Chair, University of Liverpool
Holder of the Brunner Chair of Economics at the University of Liverpool from 1951 until his retirement in 1969.
- 1992Death
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
- —
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.
- —Gunnar Myrdal(1898–1987) · Schwedische Schule
Gunnar Myrdal influenced Shackle's thinking especially with regard to the ex-ante / ex-post analysis.[1]
- —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.
Show in the family tree →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
OriginalEnglish
1972
Epistemics & Economics: A Critique of Economic Doctrines
OriginalEnglish
1979
Imagination and the Nature of Choice
OriginalEnglish
1980s
1982
Cantillon far ahead of his time
OriginalEnglish
1988
Business, Time and Thought
OriginalEnglish
2000s
2004
Economists in Discussion: The Correspondence Between G.L.S. Shackle and Stephen F. Frowen, 1951-1992 [S. F. Frowen, ed.]
OriginalEnglish
ARTICLES · 69 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
1939
Expectations and employment
OriginalEnglish
The multiplier in closed and open systems
OriginalEnglish
1940s
1940
A reply to Professor Hart
OriginalEnglish
The nature of the inducement to invest
OriginalEnglish
1941
A means of promoting investment
OriginalEnglish
1942
A theory of investment decisions
OriginalEnglish
1943
The expectational dynamics of the individual
OriginalEnglish
1945
An analysis of speculative choice
OriginalEnglish
Myrdals’s analysis of monetary equilibrium
OriginalEnglish
1946
Interest-rates and the pace of investment
OriginalEnglish
1947
The deflative or inflative tendency of Government receipts and disbursements
OriginalEnglish
1949
Probability and uncertainty
OriginalEnglish
Some theoretical aspects of payment by results
OriginalEnglish
The nature of interest rates
OriginalEnglish
1950s
1950
Three versions of the 0-surface: some notes for a comparison
OriginalEnglish
1951
Interest-rates as an instrument of economic policy
OriginalEnglish
The nature and role of profit
OriginalEnglish
1952
On the meaning and measure of uncertainty, Part I
OriginalEnglish
1953
A chart of economic theory
OriginalEnglish
Economics and sincerity
OriginalEnglish
The economist’s view of profit
OriginalEnglish
The logic of surprise
OriginalEnglish
What makes an economist?
OriginalEnglish
1954
Bank rate and the modernisation of industry
OriginalEnglish
Professor Keirstead’s theory of profit
OriginalEnglish
The complex nature of time as a concept in economics
OriginalEnglish
1955
Business men on business decisions
OriginalEnglish
Expectation, income and profit
OriginalEnglish
The Nature of Inftation
OriginalEnglish
1956
Expectation and cardinality
OriginalEnglish
Marshallian and Paretian stems
OriginalEnglish
1957
Odds, possibility and plausibility in Shackle’s theory of decision
OriginalEnglish
1958
Decisions in face of uncertainty: some criticisms and extensions of a theory
OriginalEnglish
The economist’s model of man
OriginalEnglish
1959
Time and thought
OriginalEnglish
1960s
1960
Business and uncertainty
OriginalEnglish
1961
Incertezza e profitti
OriginalItalian
Keynes and the nature of human affairs
OriginalEnglish
Recent theories concerning the nature and role of interest
OriginalEnglish
The ruin of economy
OriginalEnglish
1962
Decision et incertitude
OriginalFrench
Descrizione dello stato di incertezza
OriginalItalian
L’eclissi della ‚Grande Teoria‘
OriginalItalian
1963
General thought-schemes and the economist
OriginalEnglish
I tre signifi.canti del tempo nella trattazione economica marshalliana
OriginalItalian
L’equilibre: etude de sa signification et de ses limites
OriginalFrench
The hedgehog and the fox
OriginalEnglish
Theory and the business man
OriginalEnglish
1966
Policy, poetry and success
OriginalEnglish
1967
On the nature of profit
OriginalEnglish
1970s
1972
Marginalism: the harvest
OriginalEnglish
1973
Keynes and today’s establishment in economic theory: a view
OriginalEnglish
1978
Imagination, Formalism and Choice
OriginalEnglish
1979
On Hicks’s Causality in Economics
OriginalEnglish
1980s
1980
Imagination, unknowledge and choice
OriginalEnglish
1982
Comment
OriginalEnglish
Means and meaning in economic theory
OriginalEnglish
Nature, Notion et Notation de I’Incertitude
OriginalEnglish
Sir John Hicks’s ‚IS-LM: an explanation‘: a comment
OriginalEnglish
1983
A student’s pilgrimag
OriginalEnglish
Decisions, process and the market
OriginalEnglish
Levels of simplicity in Keynes’s theory of money and employment
OriginalEnglish
The romantic mountain and the classic lake: Alan Coddington’s Keynesian Economi
OriginalEnglish
1984
Comment on: Randall Bausor’s ‚Toward a historically dynamic eco- nomics‘, and Malcolm Rutherford’s ‚Rational expectations and Keyne- sian uncertainty‘
OriginalEnglish
Economics and the Educator’s Art
OriginalEnglish
1986
Decision
OriginalEnglish
- APA
- G.L.S. Shackle. (n.d.). Edited by mises.at and scholarium. Accessed July 15, 2026, from https://mises.at/en/denker/g-l-s-shackle
- Chicago
- “G.L.S. Shackle.” n.d. Edited by mises.at and scholarium. Accessed July 15, 2026. https://mises.at/en/denker/g-l-s-shackle.
- German historical style
- G.L.S. Shackle, edited by mises.at and scholarium, https://mises.at/en/denker/g-l-s-shackle (accessed July 15, 2026).