Titlebook: Economics Social Institutions; Insights from the Co Karl Brunner Book 1979 University of Rochester Center for Research in Government Policy

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Milton Friedman in Our Time,the honor and pleasure of describing Milton Friedman’s contributions to monetary theory, aggregative analysis, and statistical theory in . at the time. They have been discussed by many others, and they are, in any case, so well known and so much in the mainstream of economics as to obviate further d

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Development Economics: Intellectual Barbarism,al standards characterizes much of contemporary development economics and, to a lesser extent, other branches of economics. Economists holding senior academic positions confuse free goods and scarce resources, systematically ignore the price-dependence of supply and demand, or neglect patent and per

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A Hobbesian Interpretation of the Rawlsian Difference Principle,eviously developed, despite the lengthening bibliography of Rawlsian-inspired criticism and analysis.. Critics of this principle have concentrated attention almost exclusively on the extreme risk averseness that is implied, and indeed, the term . has been widely substituted for Rawls’s own preferred

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Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure,for the firm.. In addition to tying together elements of the theory of each of these three areas, our analysis casts new light on and has implications for a variety of issues in the professional and popular literature, such as the definition of the firm, the “separation of ownership and control,” th

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Some Implications of Recognition of Property Right Transactions Costs,pite much recent interest and research in that area. Probably the paper in . times that most stimulated progress was Coase’s “The Problem of Social Costs.” . It demonstrated that, with costless exchange transactions and well-defined and transferable property rights, resource uses—aside from wealth e