The Economic Theory of Costs - 9781138670938
Taylor & Francis
The Economic Theory of CostsFoundations and New Directions\nAuthor(s): Matthew McCaffrey\nFormat: Hardback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9781138670938, 978-1138670938\nSynopsis\nThe 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.\n\nThis 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 th.
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