G.L.S. Shackle was one of the representative critics against probability-based economic theory, and influenced some Post-Keynesians and Austrians. During the 1980s and 1990s, his alternative framework was mathematically reconstructed by Katzner. In this paper, we will reformalize the...

In contrast to Mandler's (1999a; Theorem 6) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we first show that any regular Sraffian steady-state equilibrium is indeterminate in terms of Sraffa (1960) under the simple overlapping generation economy. Moreover, we...