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  • Cited by 16
Publisher:
Cambridge University Press
Online publication date:
July 2009
Print publication year:
2008
Online ISBN:
9780511510656

Book description

The essays in this book discuss human behavior and the institutions of capitalism. The essays are non-technical and are written so as to be accessible to students of all disciplines and to all other persons interested in capitalism and in economic behavior. They often present unconventional views of the topics they discuss. Those containing unconventional views discuss self-interested behavior, selfish gene theory, the meaning and social function of private ownership, the externality problem, the nature of the firm and the rise of capitalism. The essays are not meant to be a textbook, but they offer a useful supplementary reading source for courses in business, economics and law that deal with human behavior in the marketplace and with capitalism, ownership, markets and firms.

Reviews

Review of the hardback:‘This lovely set of essays provides a small intellectual feast. The readings are a delight for the thoughtful economist and should be an excellent supplement for any number of undergraduate or graduate economic courses or law school offerings. Demsetz's economics is the lively engagement with fundamental questions such as the root of property rights, the delayed emergence of capitalism, and declining family size. He demonstrates the power of simple straightforward economic instincts and principles when wielded by a sharp mind aided by a fluid pen to enlighten important social questions.'

Lloyd Cohen - George Mason University

Review of the hardback:‘Harold Demsetz's contributions to economics are well known for their simple originality and have laid important foundations in many areas of economics. With this book, Harold Demsetz continues to spoil his audience with a wide-ranging array of novel and thought-provoking essays.'

Francesco Parisi - University of Minnesota and University of Bologna

Review of the hardback:‘… From Economic Man to Economic System is an excellent piece of research, which focuses on various economic discussions of individual behavior and the behaviour of economic institutions. Tackling the important issues of self-interest and capitalism and its institutions, it is worthwhile reading for everyone who is interested in economic decisions and economic institutions.'

Friedrich Schneider - Johannes Kepler University of Linz

Review of the hardback:‘From Economic Man to Economic System brings Harold Demsetz's deep learning and analytical insights to bear on ongoing intellectual debates addressing the efficiency (and efficacy) of unfettered market capitalism, the regulation of environmental quality and the modern business corporation, and the causes of the wealth of nations. The … essays collected here are uniformly well crafted and thought-provoking. The product of a lifetime of reflection by one of the economics profession's most penetrating thinkers, From Economic Man to Economic System will be of interest to economists, legal scholars and many others.'

William F. Shughart, II - F. A. P. Barnard Distinguished Professor of Economics, University of Mississippi

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Contents

References
Alchian, A. A., and Demsetz, H. (1972) Production, information costs, and economic organization. Amer Econ Rev 62(5): 777–95.
Allen, G. C. (1929) The Industrial Development of Birmingham and the Black Country, 1860–1927 (London: George Allen and Unwin).
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Buchanan, James M., and Tullock, Gordon (1962) The Calculus of Consent (Ann Arbor: Univ. of Michigan Press).
Coase, Ronald H. (1937) The nature of the firm. Economica 4(16): 386–405.
Coase, Ronald H. (1959) The Federal Communications Commission. J Law Econ 2:1–40.
Coase, Ronald H. (1960) The problem of social cost. J Law Econ 3(1): 1–44.
Coase, Ronald H. (1978) Economics and contiguous disciplines. J Legal Stud 7: 201–11.
Dawkins, Richard (1976; 2nd ed. 1989) The Selfish Gene (Oxford: Oxford Univ. Press).
Demsetz, H. (1964) The exchange and enforcement of property rights. J Law Econ 7(Oct.): 11–26.
Demsetz, H. (1967) Toward a theory of property rights. Amer Econ Rev LVII(2): 347–59.
Demsetz, H. (1968) The cost of transacting on the New York Stock Exchange. Quart J Econ 82(1): 33–53.
Demsetz, H. and Lehn, K. (1985) The structure of corporate ownership: causes and consequences. J Pol Econ 93(6): 1155–77.
Demsetz, H. (1986) Corporate control, insider trading, and rates of return. Amer Econ Rev 76(2): 313–16.
Demsetz, H. (1997) The primacy of economics: An examination of the comparative success of economics in the social sciences. Econ Inquiry: 1–11.
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Galbraith, John K. (1967) The New Industrial State (Boston: Houghton Mifflin).
Hardin, Garrett (1968) The tragedy of the commons. Science 162: 1243–8.
Hayek, Friedrich A. (1988) The Fatal Conceit (Chicago: Univ. of Chicago Press).
Hirshleifer, Jack. (1985) The expanding domain of economics. Amer Econ Rev 75(6): 53–68.
Holderness, Clifford G. (2007) The myth of diffuse ownership in the United States. Rev. Finan. Stud. Advance Access.
Knight, Frank H. (1921) Risk, Uncertainty, and Profit (Republished 1965, New York: Harper & Row).
Lal, D. (2006) Reviving the Invisibible Hand (Princeton: Princeton University Press).
Maine, Henry (1861 ed.) Ancient Laws (London: Pollock).
Marshall, Alfred (1890) Principles of Economics (8th ed., Macmillan; New York, 1948; 1st ed., 1890).
Pigou, A. C. (1920) The Economics of Welfare (London: Macmillan).
Ridley, Matt (1996) The Origin of Virtue (New York: Penguin Books).
Rogers, A. R. (1995) Genetic evidence for a pleistocene population explosion. Evolution 49(August): 608–15.
Schumpeter, J. A. (1939) Business Cycles (New York: McGraw-Hill).
Schumpeter, J. A. (1950) Capitalism, Socialism, and Democracy (New York: Harper and Brothers).
Smith, Adam (1776) The Wealth of Nations (Chicago: University of Chicago Press ed. 1976; Cannon ed., originally published by Methuen & Co., Ltd. 1904).
Stigler, George J. (1971) The theory of economic regulation. Bell J Econ 2(1): 3–21.
Veblen, Thorstein (1973) The Theory of the Leisure Class (Boston: Houghton Mifflen Co. Originally published 1899).
Whybrow, Peter C. (2005) American Mania, When More Is Not Enough (New York: W. W. Norton).

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