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Economic Forces at Work

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Title: Economic Forces at Work
by Armen A. Alchian
ISBN: 0-913966-35-5
Publisher: Liberty Fund
Pub. Date: 01 June, 1977
Format: Paperback
Volumes: 1
List Price(USD): $12.00
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Average Customer Rating: 4 (1 review)

Customer Reviews

Rating: 4
Summary: A collected work of a great ecocnomist
Comment: This book collects most of the important papers written by Armen Alchian, who has made great contribution on the development of new institutional economics.

The topics of his works starts from analysis of uncertainty and information costs. One of his famous contribution ,the implications of shirking in team production is the main heading in the book. Other topics including inflation and cost defintion are included.

In my opinion,the most impressive work to me is the paper which clarify the definition of cost. It is only Armen Alchian who is willing and has clear concept to write on such important concept but so many people has wrong understanding in what they believe as simple concept.

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