The Economic Theory of Costs

Foundations and New Directions
Herausgeber: McCaffrey, Matthew

• Gebundenes Buch

Produktbeschreibung

This volume explores, develops, and critiques the rich literature on costs, examining the many roles cost plays in economic theory and practice. The book especially studies costs from the perspective of the Austrian or "causal-realist" approach to economics. The chapters integrate historical work with contemporary research, finding valuable crossroads between numerous traditions in economics. They examine the role of costs in theories of choice and opportunity costs; demand and income effects; production and distribution; risk and interest rates; uncertainty and production; monopsony; Post-Keynesianism; transaction costs; socialism and management; and social entrepreneurship. Together, these essays represent an update and restatement of a central element in the economic way of thinking. Each chapter reveals how the Austrian, causal-realist approach to thinking about costs can be used to solve an important problem or debate in economics.

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Produktdetails

• Verlag: Taylor & Francis Ltd (Sales)
• Seitenzahl: 270
• Erscheinungstermin: 4. September 2017
• Englisch
• Abmessung: 241mm x 162mm x 22mm
• Gewicht: 566g
• ISBN-13: 9781138670938
• ISBN-10: 1138670936
• Artikelnr.: 49085608

Autorenporträt

Matthew McCaffrey is Assistant Professor of Enterprise in the Alliance Manchester Business School, University of Manchester, UK. His research focuses on entrepreneurial decision making, the role of entrepreneurship in social and economic development, and the institutional conditions in which enterprise thrives.

Inhaltsangabe

Introduction: "The Economic Theory of Costs in Perspective"
Matthew McCaffrey
Cost and Choice
Chapter 1:"Contemporary Debates on Opportunity Cost Theory and Pedagogy"
Jonathan Newman
Chapter 2: "The 'Income Effect' in Causal-Realist Price Theory"
Joseph T. Salerno
The Evolution of Causal-Realist Production Theory
Chapter 3:"From Marshallian Partial Equilibrium to Austrian General
Equilibrium: The Evolution of Rothbard's Production Theory"
Patrick Newman
Chapter 4: "Man, Economy and State, Original Chapter 5: Producer's
Activity"
Murray N. Rothbard
Risk, Uncertainty, and Cost
Chapter 5: "The Myth of the Risk Premium"
Jörg Guido Hülsmann
Chapter 6: "Time and the Theory of Cost"
Jeffrey M. Herbener
Causal-Realist Price Theory: Debate and Synthesis
Chapter 7: "Monopsony Theory Revisited"
Xavier Méra
Chapter 8: "Costs and Pricing: An Austro-Post-Keynesian Synthesis?"
Mateusz Machaj
Economic Organization, Entrepreneurship, and the Firm
Chapter 9: "Austrian Economics and Transaction Cost Economics: Notes on a
Doubtful Compatibility"
Mihai-Vladimir Topan
Chapter 10: "The Management Problem of Socialism: Cost at the Expense of
Value"
Per L. Bylund
Chapter 11: "Economic Calculation and the Limits of Social
Entrepreneurship"
Matthew McCaffrey