Economic Forces at Work

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Liberty Press, 1977 - 523 páginas

In 1950, Armen Alchian published his paper "Uncertainty, Evolution and Economic Theory" (reprinted in this volume), a paper of striking originality, whose importance was immediately perceived and which gained him international recognition. It was clear that economics had a new master.

Alchian has made important contributions to the economic analysis of inflation and unemployment and to the theory of costs and of the firm. He has played the leading role in the development of a theory of property rights. His writing is distinguished by his ability to disentangle the essential from the trivial and, above all, by his skill in showing how the same basic economic forces are at work in a wide variety of apparently completely different social settings.

Armen A. Alchian is Professor Emeritus of Economics at UCLA.

Ronald H. Coase is Professor Emeritus at the University of Chicago Law School. He was awarded the 1991 Nobel Prize in Economics.

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Contenido

Introduction by Ronald H Coase
7
Uncertainty Evolution and Economic
15
Unemployment
37
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Economic forces at work
Armen Albert Alchian
Vista de fragmentos - 1977

Términos y frases comunes

activity aggregate demand airframe Alchian alternative American Stock Exchange analysis anticipated inflation Armen Alchian asset prices average behavior buyer capital changes collusion competition consumption contracts corporation cost of holding creditors decrease deflator diamond economic economists effects employees enterprises equity evidence example exchange expected fall in real fiat money firm function future gain greater higher implies incentive income increase individual induce inflation tax inputs J. M. Keynes less loss lower marginal marginal cost marginal product means measure Mitchell monopolistic monopoly novice owners ownership pecuniary percent person potential predictions present price index price level private property profit maximization profits progress curve property rights proposition public ownership purchase rate of output ratio real wages reduced result rise sellers service flow shirking stock prices stockholders team production tenure theory tion unemployment utility wealth York Stock Exchange zero tuition

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Información bibliográfica

TítuloEconomic Forces at Work
AutorArmen Albert Alchian
Ediciónilustrada
EditorLiberty Press, 1977
ISBN0913966355, 9780913966358
Largo523 páginas
  
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