Vilfredo Pareto's Manual of Political Economy is a "classic" study in the history of economic thought for many reasons, the most noteworthy of which include the setting of general equilibrium economics within a choice theoretic framework based on the opposition between tastes and obstacles; the definitive formulation of economic efficiency, including the surplus approach to collective welfare; the technically flawed but nonetheless insightful treatment of path dependence in consumer theory; and the introduction of non-competitive market analysis to the general equilibrium economics. In so...
Vilfredo Pareto's Manual of Political Economy is a "classic" study in the history of economic thought for many reasons, the most noteworthy of which i...