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Risk, Uncertainty and Profit
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Risk, Uncertainty and Profit Paperback - 2005

by Frank H. Knight


From the publisher

We live in a world full of contradiction and paradox, a fact of which perhaps the most fundamental illustration is this: that the existence of a problem of knowledge depends on the future being different than the past, while the possibility of the solution of the problem depends on the future being like the past. -from Chapter XI: Uncertainty and Social Progress A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

Details

  • Title Risk, Uncertainty and Profit
  • Author Frank H. Knight
  • Binding Paperback
  • Pages 400
  • Volumes 1
  • Language ENG
  • Publisher Cosimo Classics
  • Date 2005-09-01
  • Illustrated Yes
  • Features Bibliography, Illustrated, Index
  • ISBN 9781596052420 / 1596052422
  • Weight 0.99 lbs (0.45 kg)
  • Dimensions 8.02 x 5.15 x 1 in (20.37 x 13.08 x 2.54 cm)
  • Library of Congress subjects Uncertainty, Profit
  • Library of Congress Catalog Number 2005284221
  • Dewey Decimal Code 338.5
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Risk, Uncertainty and Profit
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by Frank H Knight

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Risk, Uncertainty and Profit

by Frank H. Knight

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