Excerpt from Theory of Political Economy
Association at the Cambridge Meeting in the year 1862. A still briefer abstract of that paper was inserted in the Report of the Meet ing a, and the paper itself was not printed until June 1866 b. Since writing that paper, I have, over and over again, questioned the truth of my own notions, but without ever finding any reason to doubt their substantial correctness. I have therefore thought it needless to delay any longer submitting the theory to the oriti cism of those who are interested in the progress of Political Economy.
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Paperback. Etat : New. Print on Demand. This book pioneers a theory that the principle of 'least effort for most benefit' determines humanity's economic behaviour. The author challenges classic economic theory, positing that the value of goods and services is subjective, rather than intrinsic. The author argues that decisions about resource allocation are based on the calculus of pleasure and pain, leading to a trade-off between the effort required to acquire something, and the utility (degree to which its possession satisfies our wants) we perceive in it. This idea transforms the way we understand the relationship of effort to reward. The book explores the factors that influence our understanding of utility, including uncertainty and anticipation, and how these impact economic behaviour, from consumption through to investment. Introducing mathematical language, the author seeks to quantify concepts like pleasure and pain, arguing that the science of political economy must be mathematical in order to be truly predictive. Ultimately, the author argues that the economic interests of individuals and those of society can be reconciled. The ideas presented in this book have significantly advanced our understanding of human economic behaviour, making it a must-read for anyone seeking to comprehend economic phenomena. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N° de réf. du vendeur 9781332791507_0
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PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332791507
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Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332791507
Quantité disponible : 15 disponible(s)