SHACKLE (G.L.S.)
The Nature of Interest-Rates.
Inscribed by the author ‘With kind regards, G.L.S. S.’ in black ink to the front cover. Not identified as such, but from the library of the Nobel Prize winning Cambridge economist Sir Richard Stone.
An early article by Shackle on the interpretation of Keynes’s liquidity preference theory as an ever-present response to pervasive uncertainty, writing that the ‘rate of interest is, of all prices, the one most inseparably bound up by the logic of its very nature with expectation and uncertainty. These are, indeed, the main reason for its existence’ (p. 116).
