Risk, Uncertainty and Profit

by Knight, Frank Hyneman

• ISBN13: 9780226446912
• ISBN10: 0226446913
• Edition: Reprint
• Format: Paperback
• Copyright: 1985-09-01
• Publisher: Univ of Chicago Pr

Author Biography

Krank H. Knight, 1885-1972, known as the "Grand Old Man" of Chicago, was one of the twentieth century's most eclectic economists and described as perhaps the deepest thinker and scholar American economics has produced. He graduated from the University of Tennessee in 1913 with both a B.S. and an M.A. degree. He completed doctoral studies at Cornell University in 1916. Teaching assignments were held at Cornell and Iowa before entering a long career at the University of Chicago, where he remained until 1960, teaching nine years more after his retirement in 1951. While there he was a towering figure in the Economics Department, being its foremost specialist in the history of economic thought and a major leader of the "Chicago School" which produced a large number of distinguished economists. In 1957, the American Economic Association gave him its highest award, the Francis Walker Medal for lifetime achievement in economics

Table of Contents

Preface to the First Edition	p. vii
Preface to the Re-issue (1933)	p. xi
Preface for the Reprint of 1948	p. xxxvii
Preface for the Reprint of 1957	p. lii
Introductory
The Place of Profit and Uncertainty in Economic Theory	p. 3
Theories of Profit; Change and Risk in Relation to Profit	p. 22
Perfect Competition
The Theory of Choice and of Exchange	p. 51
Joint Production and Capitalization	p. 94
Change and Progress with Uncertainty Absent	p. 141
Minor Prerequisites for Perfect Competition	p. 174
Imperfect Competition Through Risk and Uncertainty
The Meaning of Risk and Uncertainty	p. 197
Structures and Methods for Meeting Uncertainty	p. 233
Enterprise and Profit	p. 264
Enterprise and Profit (continued) The Salaried Manager	p. 291
Uncertainty and Social Progress	p. 313
Social Aspects of Uncertainty and Profit	p. 347
Index	p. 377
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