Kaleidics
The term kaleidics ( kalos: "good", "beautiful"; εἶδος eidos: "form", "shape") denotes the ever-changing shape and status of an economy. Uncertainty is the primary kaleidic factor. It is strongly associated with the work of George Shackle, who had a rather radical interpretation of Keynesian economic theory. He surmised that the uncertainty in a capitalist economy was due to the irrational nature of investment, which is often driven by irrational fears, rumors, and superstition, rather than what is traditionally assumed to be cold, hard, calculation. Such theories lead to the view, expressed in Viennese kaleidics, that the turbulence of markets cannot be smoothed through government interference, and must therefore be left to their own devices. Uncertainty in economics British economist George Lennox Sharman Shackle, who has been characterised as a post-Keynesian but also as influenced by Austrian economics, made an attempt to challenge classical rational choice theory. He used the term "kaleidostatics" (or "kaleido-statics"), derived from "kaleidoscope", to describe the status of the economy in the particular posture which prevails at any point in time, a status due to "particular expectations, or rather, particular agreed formulas about the future, [as] are for the moment widely accepted." This status, however, as Shackle