The Economic Theory of Costs: Foundations and New Directions

ISBN-13: 9781138670938 / Angielski / Twarda / 2017 / 270 str.

Matthew McCaffrey

Opis

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.

O autorze

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.