There is little point in demanding minor concessions and relaxations of the abstract, timeless general equilibrium. The light it can throw on human a… - G. L. S. Shackle

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There is little point in demanding minor concessions and relaxations of the abstract, timeless general equilibrium. The light it can throw on human affairs is throw by its most austere and formal version. We are not concerned to ask: How could it possibly work? The useful question is: What does its logical structure imply?

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About G. L. S. Shackle

George Lennox Sharman Shackle (14 July 1903 – 3 March 1992) was an English economist. He made a practical attempt to challenge classical rational choice theory and has been characterised as a "post-Keynesian," though he is influenced as well by Austrian economics. Much of his work is associated with the of evidence.

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Native Name: George Lennox Sharman Shackle
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In the Treatise we are shown the bond-market as it exists in real life: a speculative market where a price, with an identity and a momentary stability, can only exist if there are two camps of dealers holding opposite views of the impending movement of bond prices.
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Myrdalian ex ante language would have saved the General Theory from describing the flow of investment and the flow of saving as identically, tautologically equal, and within the same discourse, treating their equality as a condition which may, or not, be fulfilled
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