Cost, choice and political economy

Review

'Jack Wiseman brings to the inclusive subject matter of political economy an imaginative methodological perspective that enables him to turn whole parts of orthodox economic theory around.' -- James M. Buchanan, Nobel Laureate in Economics, 1986

Product Description

This book presents in one volume Professor Wiseman's seminal work on the theory of costs and the economist's treatment of the role of government. The major themes concern the subjectivity of costs and the unknowability of the future. From an initial scepticism about pricing rules, the arguments develop into a comprehensive critique of mainstream economic theory and, more positively, an exposition of the fundamentals of a new political economy grounded in choice-as-opportunity-cost.

About the Author

The late Jack Wiseman, formerly Emeritus Professor of Economics, University of York, UK