Liberty Fund is proud to present, in two volumes, 'The Collected Works of Armen A Alchian', bringing together Alchian's most influential essays, articles, editorials, and lectures to provide a comprehensive record of his thinking on a broad range of topics in economics. As various and as specific as some of this collection's topics are, they are unified, as editor Daniel K Benjamin writes, by "both a coherent methodology for doing economics, and a view of the world that celebrates the importance of individual liberty." Benjamin goes on to state that, in Alchian's view, "the purpose of theory is never theory in and of itself; it is instead to help individuals understand the world around them."

Introduction
Uncertainty, Evolution and Economic Theory
Biological Analogies in the Theory of the Firm: Comment
Review of The Investment Decision
The Meaning of Utility Measurement
Information Costs, Pricing and Resource Unemployment
What Is the Best System?
Market Value Effects of Take-Overs?
An All-or-Nothing
Tender of Conjectures
Information, Martingales and Prices
Why Money?
Trading Stamps (Armen A. Alchian and Benjamin Klein)
There Really Is a Free Service
Why Brand Names?
The Chef, Gourmet and Gourmand
Costs and Outputs
Cost
Reliability of Progress Curves in Airframe Production
On a Correct Measure of Inflation
Be Wary of the CPI Commission Report!
There''s Only 1 Cause for Inflation
Problems of Rising Prices
Effects of Inflation
Redistribution of Wealth Through Inflation
More Evidence on Inflation-Caused Wealth Redistribution
Inflation and Distribution of Income and Wealth
Effects of Inflation upon Stock Prices
How the Government Gains from Inflation
The Meaning and Validity of the Inflation-Induced Lag of Wages Behind Prices
Real Wages in the North During the Civil War: Mitchell''s Data Reinterpreted
Review of the Council of Economic Advisers'' 1972 Report: A Comment
An Introduction to Confusion
Abbott and Costello in Washington
There''s Gas in Your Future
Oil Decontrol Windfall: Magical or Real?
Energy Economics
It''s Easy to End Gas Shortage
To Be Fair, Let Each Solve His Own Fuel Crisis
The Economics of Power
Summary Notes on Misleading Economic Jargon
Words: Musical or Meaningful?
Rent
Allocative Efficiency with Edgeworth-Bowley Boxes
The Rate of Interest, Fisher''s Rate of Return over Costs and Keynes'' Internal Rate of Return
Linear Progress Curves Are Illusions
Linear Progress Curves Are Not Illusions
Why the Learning Curve Is Convex on Double Log Scale
Review of Dynamic Equipment Policy
Meanings and Uses of Equations and Models
Review of Essays in Economics and Econometrics: A Volume in Honour of Harold Hotelling
Economic Replacement Policy
Principles of Statistical Analysis
Univariate Analysis
Bivariate Analysis
Multivariate Analysis
Chr(45) Introduction
Some Economics of Property
Some Economics of Property Rights
Pricing and Society
The Property Rights Paradigm
Property Rights [1987]
Property Rights [1993]
The Bishops and the Lay Commission: Comments on Two Letters
Some Implications of Recognition of Property Right Transactions Costs
The Beneficiaries of Cleaner Air
Production, Information Costs, and Economic Organisation
Vertical Integration, Appropriable Rents, and the Competitive Contracting Process
First Negotiation, First Refusal Rights
Decision Sharing and Expropriable Specific Quasi-Rents: A Theory of First National Maintenance Corporation v. NLRB
Reminiscences of Errors: A Tribute in Honour of Dean William H. Meckling on His Retirement
Specificity, Specialisation, and Coalitions
Reflections on the Theory of the Firm
Concluding Remarks
The Firm is Dead
Long Live the Firm: A Review of Oliver Williamson''s The Economic Institutions of Capitalism
Development of Economic Theory and Antitrust: A View from the Theory of the Firm
Thoughts on the Theory of the Firm: A Tribute to Erik G. Furubotn
Vertical Integration and Regulation in the Telephone Industry
Private Property and the Relative Cost of Tenure
Economics of Tenure
Competition, Monopoly and the Pursuit of Money
Review of the Economics of Discrimination
The Meaning of Collusion
Electrical Equipment Collusion: Why and How
Dollars or Scholars: The Economics of College Football
The Basis of Some Recent Advances in the Theory of Management of the Firm
Incentives in the United States
Market Prices, Property and Behaviour
Customs, Behaviour, and Property Rights
An Economist Looks at Secondary Education in California
Cost Effectiveness of Cost Effectiveness
An Economic Analysis of the Market for Scientists and Engineers
On Private Property and Freedom
Eco
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