Interest Rates and Investment Decisions

Stephen F. Frowen

Chapter 9 in Unknowledge and Choice in Economics, 1990, pp 156-167 from Palgrave Macmillan

Abstract: Abstract Imagination, ‘the process where the divine has touched man’, as Professor Perlman has suggested (p. 17), or, as I would personally define this concept, the autonomous creative activity of our mind, is a subject central to the theories of Professor G. L. S. Shackle. It is imagination out of which choice arises, and the nature of choice is inevitably closely linked with the uncertainty, or — to use Shacklean terminology — the unknowledge of the outcome of decision-making. But unknowledge has to be related to the confidence to be able to cope and the whole theory of business can in fact be said to be essentially an imaginative process.

Keywords: Interest Rate; Cash Flow; Investment Decision; Real Interest Rate; Competitive Bidding (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-08097-7_9

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