Risk, Uncertainty and Profit

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Author :
Publisher : Cosimo, Inc.
ISBN 13 : 1602060053
Total Pages : 401 pages
Book Rating : 4.6/5 (2 download)

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Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight

Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

The Economic Organization

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Publisher : Transaction Publishers
ISBN 13 : 1412851211
Total Pages : 209 pages
Book Rating : 4.4/5 (128 download)

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Book Synopsis The Economic Organization by : Frank Hyneman Knight

Download or read book The Economic Organization written by Frank Hyneman Knight and published by Transaction Publishers. This book was released on 2013-07-31 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: When originally released, Frank Hyneman Knight’s The Economic Organization revitalized the teaching of economic theory in America during the 1930s, laying the foundation for the price theory revolution led by economists emerging from Knight’s circle at The University of Chicago. Knight shows that when societies choose to allow market organization, their economy simultaneously solves the fundamental functions of valuation and efficiency. It also organizes the production and distribution of resources, providing incentives for progress. The Economic Organization provides a short introduction to the basic principles of supply, demand, and distribution that emerge from neoclassical price theory. The central role of the price mechanism in market organization is illustrated neatly by Knight’s "wheel of wealth"—the circular flow diagram most often identified with macroeconomic flows, but introduced here for price theoretic reasons. This version also includes his essay on "Utility and Cost," which provides a seamlessly integrated alternative-cost interpretation of neoclassical theory. This expanded edition of The Economic Organization includes a new introduction by Ross B. Emmett, which expands upon the short note on capital theory inserted in the original. Knight wrote three versions of the note for student use, and all three are included in the second chapter. Few books have changed the landscape of American economics and economic education as much as Knight’s The Economic Organization. This book should be read by all economists, historians, and policy makers.

Frank Knight and the Chicago School in American Economics

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Author :
Publisher : Routledge
ISBN 13 : 1135974411
Total Pages : 446 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis Frank Knight and the Chicago School in American Economics by : Ross B. Emmett

Download or read book Frank Knight and the Chicago School in American Economics written by Ross B. Emmett and published by Routledge. This book was released on 2009-01-30 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last twenty years, Ross B. Emmett has explored the work of Frank H. Knight, the philosopher of the Chicago School of economics. Knight occupies a paradoxical place in the history of Chicago economics: vital to the tradition’s teaching of price theory and the twentieth-century re-articulation of the defense of free enterprise and liberal democracy, yet a critic (in advance) of the empirical and methodological orientation that has characterized Chicago economics and the rest of the discipline in the post-war period, and skeptical of liberalism’s prospects. In the course of his investigation of Knight’s work, Emmett has written not only about Knight’s economics and philosophy, the nature of Chicago economics, and Knight’s place in the Chicago tradition, but also about the application of hermeneutic theory to the history of economics, the relation of the history of economic thought to the discipline of economics, and the relation between economics and religion. His eight-volume collection of primary-source material on The Chicago Tradition in Economics, 1892-1945 was published by Routledge in 2001.

Selected Essays by Frank H. Knight, Volume 1

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Author :
Publisher : University of Chicago Press
ISBN 13 : 9780226446950
Total Pages : 448 pages
Book Rating : 4.4/5 (469 download)

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Book Synopsis Selected Essays by Frank H. Knight, Volume 1 by : Frank H. Knight

Download or read book Selected Essays by Frank H. Knight, Volume 1 written by Frank H. Knight and published by University of Chicago Press. This book was released on 1999 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frank H. Knight (1885-1972) was a central figure—many say the dominant influence—in the development of the "Chicago School of Economics" at the University of Chicago in the 1930s and 1940s, where he taught future Nobel laureates Milton Friedman, James Buchanan, George Stigler, and many other notable scholars. It was Knight's embedded skepticism about the reach of economic knowledge that set the stage for the laissez-faire economics that matured at the University in the 1950s and 1960s. But as important as Knight's technical economic contributions were, he never strayed far from his broad philosophical interests and concern for the state of modern liberal democracy. Ross B. Emmett's selection of Knight's essays is the first to offer a comprehensive picture of the work of this notable social scientist over the span of his career. Included are not only Knight's most influential writings, but also a number of uncollected papers which have not previously been widely accessible. These essays illustrate Knight's views on the central debates regarding economics, social science, ethics, education, and modern liberalism. Volume 1: "What is Truth" in Economics? contains fifteen of Knight's papers up through 1940. Volume 2: Laissez Faire: Pro and Con includes fourteen of Knight's papers from 1940 through 1967, including "Socialism: The Nature of the Problem" and "The Sickness of Liberal Society." These twenty-nine essays together stand not only as a monument to one of economics' most significant and original thinkers, but will also serve as an invaluable resource for economists, philosophers, and political scientists interested in the development of the western liberal tradition.

J.M. Keynes Versus F.H. Knight

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Author :
Publisher : Springer
ISBN 13 : 9811380007
Total Pages : 157 pages
Book Rating : 4.8/5 (113 download)

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Book Synopsis J.M. Keynes Versus F.H. Knight by : Yasuhiro Sakai

Download or read book J.M. Keynes Versus F.H. Knight written by Yasuhiro Sakai and published by Springer. This book was released on 2019-06-28 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book critically discusses and systematically compares J.M. Keynes and F. H. Knight, two giants in the history of economic thought. In 1921 they both published apparently similar books on risk, probability, and uncertainty. However, while Knight's contribution on risk and uncertainty is now well recognized, Keynes's work on probability and uncertainty has been somewhat ignored in the shadow of his more famous The General Theory of Employment, Interest and Money (1936). Focusing on an earlier yet equally important volume by Keynes, A Treatise on Probability (1921), this book sheds a light on his outstanding ideas and the lasting influence on his later works, including The General Theory. There are few books that systematically discuss Keynes and Knight, although there are remarkable comparisons between Keynes's concept of probability and uncertainty and Knight's distinction between a measurable risk and a non-measurable uncertainty. This timely book unifies Keynes and Knight into a new, comprehensive approach to a very complex human behavior

Freedom and Reform

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Publisher : Indianapolis, Ind. : Liberty Press
ISBN 13 : 9780865970045
Total Pages : 0 pages
Book Rating : 4.9/5 (7 download)

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Book Synopsis Freedom and Reform by : Frank Hyneman Knight

Download or read book Freedom and Reform written by Frank Hyneman Knight and published by Indianapolis, Ind. : Liberty Press. This book was released on 1982 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifteen essays in this collection, first published in 1947, treat a variety of economic, social, political, and philosophical problems and were written by a legendary professor of economics at the University of Chicago. Professor Knight (1885-1972) wrote from the viewpoint of ethics as well as economics. His own words best describe his objective in this book: "The basic principle of science--truth or objectivity--is essentially a moral principle. . . . The presuppositions of objectivity are integrity, competence, humility. . . . All coercion is absolutely excluded in favor of free meeting of free minds."

Risk, Uncertainty and Profit

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Author :
Publisher : Courier Corporation
ISBN 13 : 0486147932
Total Pages : 450 pages
Book Rating : 4.4/5 (861 download)

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Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight

Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Courier Corporation. This book was released on 2012-03-09 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: DIVThis enduring economics text provided the theoretical basis of the entrepreneurial American economy during the post-industrial era. A revolutionary work, it taught the world how to systematically distinguish between risk and uncertainty. /div

Selected Essays by Frank H. Knight: "What is truth" in economics?

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Author :
Publisher :
ISBN 13 : 9780226446967
Total Pages : 406 pages
Book Rating : 4.4/5 (469 download)

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Book Synopsis Selected Essays by Frank H. Knight: "What is truth" in economics? by : Frank Hyneman Knight

Download or read book Selected Essays by Frank H. Knight: "What is truth" in economics? written by Frank Hyneman Knight and published by . This book was released on 1999 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Genealogy of Self-Interest in Economics

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Author :
Publisher : Springer Nature
ISBN 13 : 9811593957
Total Pages : 321 pages
Book Rating : 4.8/5 (115 download)

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Book Synopsis A Genealogy of Self-Interest in Economics by : Susumu Egashira

Download or read book A Genealogy of Self-Interest in Economics written by Susumu Egashira and published by Springer Nature. This book was released on 2021-01-29 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book to describe the entire developmental history of the human aspects of economics. The issue of “self-interest” is discussed throughout, from pre-Adam Smith to contemporary neuroeconomics, representing a unique contribution to economics. Though the notion of self-interest has been interpreted in several ways by various schools of economics and economists since Smith first placed it at the heart of the field, this is the first book to focus on this important but overlooked topic. Traditionally, economic theory has presupposed that the core of human behavior is self-interest. Nevertheless, some economists, e.g. recent behavioral economists, have cast doubt on this “self-interested” explanation. Further, though many economists have agreed on the central role of self-interest in economic behavior, each economist’s positioning of self-interest in economic theory differs to some degree. This book helps to elucidate the position of self-interest in economic theory. Given its focus, it is a must-read companion, not only on the history of economic thought but also on economic theory. Furthermore, as today’s capitalism is increasingly causing people to wonder just where self-interest lies, it also appeals to general readers.

Frank H. Knight

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Author :
Publisher : Springer
ISBN 13 : 1137462116
Total Pages : 291 pages
Book Rating : 4.1/5 (374 download)

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Book Synopsis Frank H. Knight by : David Cowan

Download or read book Frank H. Knight written by David Cowan and published by Springer. This book was released on 2016-06-07 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues for the reconsideration of Frank Knight and the Chicago School of Economic thought in a post-Financial Crisis world. The author posits that the discussion of the founder of "Knightian Uncertainty" can reveal new insights into what the economy can do for society, as his prophetic insights can offer a view into the soul of the modern economy. The book first considers Frank Knight's early history and the unfolding of his economic philosophy before going on to evaluate his enduring legacy. All those interested in the influence of political and religious philosophy on economics will be delighted to discover the lasting impact of this great economic thinker.

Frank H. Knight in Iowa City, 1919 - 1928

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Author :
Publisher : Emerald Group Publishing
ISBN 13 : 1780520093
Total Pages : 495 pages
Book Rating : 4.7/5 (85 download)

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Book Synopsis Frank H. Knight in Iowa City, 1919 - 1928 by : Ross B. Emmett

Download or read book Frank H. Knight in Iowa City, 1919 - 1928 written by Ross B. Emmett and published by Emerald Group Publishing. This book was released on 2011-08-12 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection that includes both refereed articles and review essays of books in the history of economic thought and methodology. It highlights research the historiography and methodology of the English Poor Laws, behavioural economics, and the socialist calculation debate; as well as AD Roy and portfolio theory.

Selected Essays by Frank H. Knight, Volume 2

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Author :
Publisher : University of Chicago Press
ISBN 13 : 9780226446974
Total Pages : 466 pages
Book Rating : 4.4/5 (469 download)

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Book Synopsis Selected Essays by Frank H. Knight, Volume 2 by : Frank H. Knight

Download or read book Selected Essays by Frank H. Knight, Volume 2 written by Frank H. Knight and published by University of Chicago Press. This book was released on 1999 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: Frank H. Knight (1885-1972) was a central figure—many say the dominant influence—in the development of the "Chicago School of Economics" at the University of Chicago in the 1930s and 1940s, where he taught future Nobel laureates Milton Friedman, James Buchanan, George Stigler, and many other notable scholars. It was Knight's embedded skepticism about the reach of economic knowledge that set the stage for the laissez-faire economics that matured at the University in the 1950s and 1960s. But as important as Knight's technical economic contributions were, he never strayed far from his broad philosophical interests and concern for the state of modern liberal democracy. Ross B. Emmett's selection of Knight's essays is the first to offer a comprehensive picture of the work of this notable social scientist over the span of his career. Included are not only Knight's most influential writings, but also a number of uncollected papers which have not previously been widely accessible. These essays illustrate Knight's views on the central debates regarding economics, social science, ethics, education, and modern liberalism. Volume 1: "What is Truth" in Economics? contains fifteen of Knight's papers up through 1940. Volume 2: Laissez Faire: Pro and Con includes fourteen of Knight's papers from 1940 through 1967, including "Socialism: The Nature of the Problem" and "The Sickness of Liberal Society." These twenty-nine essays together stand not only as a monument to one of economics' most significant and original thinkers, but will also serve as an invaluable resource for economists, philosophers, and political scientists interested in the development of the western liberal tradition.

The Ethics of Competition

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Author :
Publisher :
ISBN 13 :
Total Pages : 374 pages
Book Rating : 4.X/5 ( download)

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Book Synopsis The Ethics of Competition by : Frank Hyneman Knight

Download or read book The Ethics of Competition written by Frank Hyneman Knight and published by . This book was released on 1935 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Finance and Philosophy

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Publisher : Paul Dry Books
ISBN 13 : 1589881303
Total Pages : 219 pages
Book Rating : 4.5/5 (898 download)

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Book Synopsis Finance and Philosophy by : Alex J. Pollock

Download or read book Finance and Philosophy written by Alex J. Pollock and published by Paul Dry Books. This book was released on 2019-08-20 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taking the 2008 financial crisis as his jumping off point, Alex Pollock deftly illustrates how private firms and governments alike have failed to understand the shifting risks that financial systems create. With candor, clarity, and wit, he uncovers the persistent uncertainties inherent in banking, central banking, and economics. “At the height of the 2008 financial panic, Queen Elizabeth plaintively asked why nobody saw it coming. In the winning pages of Finance and Philosophy, Her Majesty can find the answer. With a lightness of touch that belies the complexity of his subject, Alex Pollock shows why the financial future is now, why it has been and always must be a closed book. A successful banker and gifted writer, Pollock tells us all we need to know about money and banking, risk and uncertainty, debt and temptation, and science and economics. He delights as he instructs.”—James Grant, founder and editor, Grant’s Interest Rate Observer “Why can’t human beings take the lessons of boom and bust, bubbles and crashes that are clearly described in history books—and learn from experience? That’s where Mr. Pollock’s wry humor and philosophic bent help understand the hubris that makes every generation believe that not only can it predict the markets, but control them . . . [Finance and Philosophy] should be required reading in economics classes, or before opening an investment account—and by every member of Congress.”—The Washington Times Alex J. Pollock is a distinguished senior fellow at the R Street Institute in Washington, DC. He was a resident fellow at the American Enterprise Institute from 2004 to 2015, and President and Chief Executive Officer of the Federal Home Loan Bank of Chicago from 1991 to 2004.

Society and Nature

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Publisher : Routledge
ISBN 13 : 131783318X
Total Pages : 400 pages
Book Rating : 4.3/5 (178 download)

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Book Synopsis Society and Nature by : Hans Kelsen

Download or read book Society and Nature written by Hans Kelsen and published by Routledge. This book was released on 2014-05-22 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1998.This is Volume XIV of eighteen in the Sociology of Behaviour and Psychology series. This text is concerned with sociological inquiry into society and nature. Written in 1946, it investigates the idea that society and nature, if conceived of as two different systems of elements, are the results of two different methods of thinking and are only as such two different objects. The same elements, connected with each other according to the principle of causality, constitute nature; connected with each other according to another, namely, a normative, principle, they constitute society

Uncertainty in Economic Theory

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Author :
Publisher : Taylor & Francis
ISBN 13 : 1134344163
Total Pages : 577 pages
Book Rating : 4.1/5 (343 download)

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Book Synopsis Uncertainty in Economic Theory by : Itzhak Gilboa

Download or read book Uncertainty in Economic Theory written by Itzhak Gilboa and published by Taylor & Francis. This book was released on 2004-08-02 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together important papers, coupled with new introductions, in the massively influential area of uncertainty in economic theory. Seminal papers are available together for the first time in book format, with new introductions and under the steely editorship of Itzhak Gilboa - this book is a useful reference tool for economists all over the globe.

Risk, Uncertainty and Profit

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Publisher :
ISBN 13 :
Total Pages : 428 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Risk, Uncertainty and Profit by : Frank Hyneman Knight

Download or read book Risk, Uncertainty and Profit written by Frank Hyneman Knight and published by . This book was released on 1921 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk, Uncertainty and Profit by Frank Hyneman Knight, first published in 1921, is a rare manuscript, the original residing in one of the great libraries of the world. This book is a reproduction of that original, which has been scanned and cleaned by state-of-the-art publishing tools for better readability and enhanced appreciation. Restoration Editors' mission is to bring long out of print manuscripts back to life. Some smudges, annotations or unclear text may still exist, due to permanent damage to the original work. We believe the literary significance of the text justifies offering this reproduction, allowing a new generation to appreciate it.