Expectation, enterprise and profit : the theory of the firm
Author(s)
Bibliographic Information
Expectation, enterprise and profit : the theory of the firm
（Routledge library editions, . Economics ; 77 . Keynesian & post-Keynesian economics ; 11）
Routledge, 2003
Available at 12 libraries
Note
Reprint. Originally published: London : G. Allen and Unwin, 1970
Includes bibliographical references and index
Description and Table of Contents
Description
G.L.S. Shackle made numerous, pioneering contributions to the study of uncertainty in economic life. This volume studies the production process, where resources must be committed to specific technological purposes long in advance of the ultimate sale of goods to the consumer. The problems of such a system rest on the durability of the instruments it uses, whose huge expense can only be recouped if they can be used for many years. Yet at the time of investment, those years of use are in the future and uncertain.
The firm is the essential institutional means of confronting this uncertainty. Expectation, Enterprise and Profit is concerned with the nature and mode of life of the firm as a means of policy formation in the face of uncertainty.
Chapters include:
The Nature and Matrix of Production, Investment and Expectation, Interdependent Decision-Making and Profit and Equilibrium.
Table of Contents
1. The Nature of Production 2. The Matrix of Production 3. The Firm's Tests of Rightness 4. Investment 5. Expectation 6. Interdependent Decision-Making 7. Profit and Equilibrium
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