L. S. E. Essays on Cost

Fülszöveg

L.S.E. ESSAYS ON COST
james m. buchanan and g.f. thirlby, editors
This book contains a selection of related essays written in the L.S.E. opportunity-cost tradition by scholars associated with the London School of Economics. The articles have been brought together in response to an emerging discontent with the prevailing neoclassical interpretation of cost. Questioning many of the accepted norms for the efficient pricing of publicly-managed enterprises, the analysis profoundly modifies the orthodox and prevailing applications of economic theory to practical policy problems.
The essays include two leading papers on equilibrium theory: Rob-bins' 1934 article on cost in the equilibrium setting, and Hayek's critical reappraisal of timeless equilibrium theory, published in 1937. In other essays, Edwards (1937) applies marginalism to the costing aspect of administration, while his colleague, Coase (1938), follows with his own demonstration. Working under these influences, Thirlby, in... Tovább

Fülszöveg

L.S.E. ESSAYS ON COST
james m. buchanan and g.f. thirlby, editors
This book contains a selection of related essays written in the L.S.E. opportunity-cost tradition by scholars associated with the London School of Economics. The articles have been brought together in response to an emerging discontent with the prevailing neoclassical interpretation of cost. Questioning many of the accepted norms for the efficient pricing of publicly-managed enterprises, the analysis profoundly modifies the orthodox and prevailing applications of economic theory to practical policy problems.
The essays include two leading papers on equilibrium theory: Rob-bins' 1934 article on cost in the equilibrium setting, and Hayek's critical reappraisal of timeless equilibrium theory, published in 1937. In other essays, Edwards (1937) applies marginalism to the costing aspect of administration, while his colleague, Coase (1938), follows with his own demonstration. Working under these influences, Thirlby, in two papers (1946), applies the subjectivist opportunity-cost theory to the decision processes of the multi-entrepreneur firm, hoping to destroy the emergent cost-rules of the objectivist-marginal-ists. In two later papers (1952 and 1960) he reinforces his plea for a multi-entrepreneur firm, and for the substitution of another equilibrium theory (Hayek's) for the timeless, uncertainty-excluded theory. Meanwhile (1953 and 1957), Wiseman continues the criticism of the control-theorists. Vissza