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No one has ever done price theory better than Alchian
| Publisher | Liberty Fund |
| Publication date | August 30, 2018 |
| Language | English |
| Print length | 744 pages |
| ISBN-10 | 0865979065 |
| ISBN-13 | 978-0865979062 |
| Item Weight | 2.31 pounds (1.05 kg) |
| Dimensions | 6 x 1.8 x 9 inches (15.2 x 4.6 x 22.9 cm) |
Provides foundational knowledge and insights for students pursuing degrees in economics and related fields.
Useful for government officials looking to understand economic principles to inform effective policy decisions.
Helps business leaders and managers apply economic theories to improve organizational strategies and market positioning.
Lacks in-depth analysis and complex theories that seasoned economists expect from academic resources.
Universal Economics
Universal Economics is a comprehensive book that provides the reader with a complete education in economics that one will use to understand the world for the rest of their life. The authors, Alchian and Allen, do an impressive job explaining economics concepts verbally. The questions at the end of each chapter reinforce the economics learned. The book covers various topics like supply and demand analysis, the theory of comparative value, and analysis of what the authors call price-seekers' behavior. The book is more theoretical than empirical, and the lack of footnotes makes it more annoying to look for further information. The book would have been improved with longer explanations of certain subjects, as some parts felt inadequately explained. However, it is a must-read book that will improve economic thinking.
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