Shackle on choice, imagination and creativity: Hayekian foundations

Paul Lewis

Cambridge Journal of Economics, 2017, vol. 41, issue 1, 1-24

Abstract: This paper develops a response to some of the criticisms that have been made of G. L. S. Shackle’s analysis of human decision-making because of its reliance on a Cartesian account of the mind. It is argued that the basis for a response can be found in the work on theoretical psychology developed by Shackle’s fellow subjectivist, and one-time PhD supervisor, F. A. Hayek. In particular, the ideas advanced by Hayek in his 1952 book, The Sensory Order can be used to provide an account of the mind that avoids the shortcomings of Shackle’s Cartesianism whilst still doing justice to his emphasis on genuine choice, expectations and the role of creativity and the imagination in human decision-making.

Keywords: Shackle; Hayek; Subjectivism; Choice; Psychology; Emergence; Expectations; Uncertainty (search for similar items in EconPapers)
JEL-codes: B2 B3 B4 B5 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (5)

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