The Economic Theory of Costs

Foundations and New Directions

Business & Finance, Economics, Economic History
Cover of the book The Economic Theory of Costs by , Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: ISBN: 9781317207634
Publisher: Taylor and Francis Publication: September 1, 2017
Imprint: Routledge Language: English
Author:
ISBN: 9781317207634
Publisher: Taylor and Francis
Publication: September 1, 2017
Imprint: Routledge
Language: English

The theory of costs is a cornerstone of economic thinking, and figures crucially in the study of human action and society. From the first day of a principles-level course to the most advanced academic literature, costs play a vital role in virtually all behaviors and economic outcomes. How we make choices, why we trade, and how we build institutions and social orders are all problems that can be explained in light of the costs we face.

This volume explores, develops, and critiques the rich literature on costs, examining some of the many ways cost remains relevant 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 the history of economic thought 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 papers represent an update and restatement of a central element in the economic way of thinking. Each chapter reveals how the Austrian, causalrealist approach to costs can be used to solve an important problem or debate in economics. These chapters are not only useful for students learning these concepts for the first time: they are also valuable for researchers seeking to understand the unique Austrian perspective and those who want to apply it to new problems.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The theory of costs is a cornerstone of economic thinking, and figures crucially in the study of human action and society. From the first day of a principles-level course to the most advanced academic literature, costs play a vital role in virtually all behaviors and economic outcomes. How we make choices, why we trade, and how we build institutions and social orders are all problems that can be explained in light of the costs we face.

This volume explores, develops, and critiques the rich literature on costs, examining some of the many ways cost remains relevant 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 the history of economic thought 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 papers represent an update and restatement of a central element in the economic way of thinking. Each chapter reveals how the Austrian, causalrealist approach to costs can be used to solve an important problem or debate in economics. These chapters are not only useful for students learning these concepts for the first time: they are also valuable for researchers seeking to understand the unique Austrian perspective and those who want to apply it to new problems.

More books from Taylor and Francis

Cover of the book GLACIAL LANDSYSTEMS by
Cover of the book Urban Governance Under the Ottomans by
Cover of the book Last Rites by
Cover of the book Industrial Change and Regional Economic Transformation by
Cover of the book Diversity and Philanthropy at African American Museums by
Cover of the book Pierre Boulez by
Cover of the book Living Electronic Music by
Cover of the book The Wars Of The Roses by
Cover of the book Tiberius Caesar by
Cover of the book Girlhood on Disney Channel by
Cover of the book Issues in Transnational Policing by
Cover of the book Wittgenstein on Thought, Language and Philosophy by
Cover of the book A Fragment of a Sociological Autobiography by
Cover of the book Development in Context by
Cover of the book The Grammar of Autobiography by
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy