Advertisement

Introduction

  • E. Roy Weintraub
Chapter
Part of the Macmillan Studies in Economics book series

Abstract

Theories of resource allocation hold a special pride of place in modern economics. Price theory seeks to explain the role of a price system in allocating productive factors to firms, and allocating the output of those firms to households. This theory, rich and complex in its conclusions, stands out as the supreme accomplishment of neo-classical economics. The foundations of this theory, however, are less frequently explained, and the organising ideas, from the theory of choice, are usually bypassed on the way to utility and production functions.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© E. Roy Weintraub 1975

Authors and Affiliations

  • E. Roy Weintraub
    • 1
  1. 1.Duke UniversityUSA

Personalised recommendations