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Series: Vernon Classics in Economics

The Collected Short Works of Thorstein Veblen - Volume III

Thornstein Veblen

April 2016 / ISBN: 978-1-62273-013-1
Availability: In stock
188pp. ¦ $45 £28 €38

This three-volume collection contains Veblen's publications in academic journals and other scholarly press. The articles are organized under major chapters covering Veblen's pioneering thoughts on social organization; economic theory; social theory; institutions, social organization and economic performance; contemporary policies and social movements; social applications of evolutionary reasoning. Veblen made numerous seminal contributions on issues as diverse as the social role of science, the economic and social competition between entrepreneurs and engineers as well as a sobering criticism of the still under-appreciated preconceptions of economics as a science. The collection brings together much work that has been inaccessible in print and provides instructive reading for researchers on institutional economics, evolutionary economics as well as those with an interest on the history of economic thought. This edition has been professionally typeset from the original articles for easier reading and includes a comprehensive index. It is printed on quality, hard-bound volumes, resulting in an indispensable contemporary edition of Veblen's timeless ideas.

The Collected Short Works of Thorstein Veblen - Volume II

Thornstein Veblen

April 2016 / ISBN: 978-1-62273-012-4
Availability: In stock
224pp. ¦ $45 £28 €38

This three-volume collection contains Veblen's publications in academic journals and other scholarly press. The articles are organized under major chapters covering Veblen's pioneering thoughts on social organization; economic theory; social theory; institutions, social organization and economic performance; contemporary policies and social movements; social applications of evolutionary reasoning. Veblen made numerous seminal contributions on issues as diverse as the social role of science, the economic and social competition between entrepreneurs and engineers as well as a sobering criticism of the still under-appreciated preconceptions of economics as a science. The collection brings together much work that has been inaccessible in print and provides instructive reading for researchers on institutional economics, evolutionary economics as well as those with an interest on the history of economic thought. This edition has been professionally typeset from the original articles for easier reading and includes a comprehensive index. It is printed on quality, hard-bound volumes, resulting in an indispensable contemporary edition of Veblen's timeless ideas.

The Collected Short Works of Thorstein Veblen - Volume I

Thornstein Veblen

April 2016 / ISBN: 978-1-62273-011-7
Availability: In stock
242pp. ¦ $45 £28 €38

This three-volume collection contains Veblen's publications in academic journals and other scholarly press. The articles are organized under major chapters covering Veblen's pioneering thoughts on social organization; economic theory; social theory; institutions, social organization and economic performance; contemporary policies and social movements; social applications of evolutionary reasoning. Veblen made numerous seminal contributions on issues as diverse as the social role of science, the economic and social competition between entrepreneurs and engineers as well as a sobering criticism of the still under-appreciated preconceptions of economics as a science. The collection brings together much work that has been inaccessible in print and provides instructive reading for researchers on institutional economics, evolutionary economics as well as those with an interest on the history of economic thought. This edition has been professionally typeset from the original articles for easier reading and includes a comprehensive index. It is printed on quality, hard-bound volumes, resulting in an indispensable contemporary edition of Veblen's timeless ideas.

The National System of Political Economy

New Edition

Friedrich List

January 2014 / ISBN: 978-1-62273-010-0
Availability: In stock
386pp. ¦ $30 £22 €27

In The National System of Political Economy, List provides a critique of the ideas of Adam Smith and David Ricardo that continues to resonate with policy makers concerned with industrial policy and national economic development. List argues that in contrast with the stylized view of classical economics, real-world economies are organized along national lines and that policy makers can ignore this reality to their peril. The benefits from trade are conditional, rather than universal and the development of sophisticated industry requires carefully designed and sequentially planned state interventions. List provides an early recognition of the existence of distinct stages of economic development, and of the interplay between military power, industrial development and national prosperity. List's work had a formative influence on subsequent strands of thought such as institutional economics and 'national systems of innovation' perspectives and is considered an exemplar of work in the tradition of realist international political economy.

Risk, Uncertainty and Profit

New Edition

Frank Knight

April 2016 / ISBN: 978-1-62273-004-9
Availability: In stock
330pp. ¦ $60 £45 €55

In Risk, Uncertainty and Profit, Frank Knight explored the riddle of profitability in a competitive market: profit should not be possible under competitive conditions, as the entry of new entrepreneurs would drive prices down and nullify margins, however evidence abounds of competitive yet profitable markets. To explain this seeming paradox, Knight uncovers the distinction between calculable risk and essentially unknowable uncertainty. Knight argued that risk stems from repeated events, which therefore allow probabilities to be calculated and factored into decisions, as for instance insurers do. Uncertainty however, stems from events that are unpredictable and as such cannot be prepared against. According to Knight, it is the interplay between risk and uncertainty on the one hand and competition between incumbent and new entrepreneurs that accounts for the enormous variation in profitability across firms and, for the same firms, over time. His insights on the sources of profit have been instrumental in shaping modern economic theory and to the development of a useful understanding of probability. This New Edition has been typeset with modern techniques and contains a newly compiled Index of important topics. It has been painstakingly proofread to ensure that it is free from errors and that the content is faithful to the original.

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