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The theory of the firm has recently undergone a dramatic transformation, drawing heavily on the pathbreaking work of Armen Alchian. This volume explores his contribution to the debate, including essays by Harold Demetz, Ben Klein, Jerry Jordan and Art Devany.
From economic law to industrial organization, macroeconomics to finance and basic economic theory, Alchian's style and ideas have influenced generations of economists. In this collection, economists discuss aspects of his work, including topics such as the influence social norms have on the success of government institutions and notions of cost for the definitions of coercion and freedom. These papers continue Armen Alchian's work in a variety of areas and make clear that his ideas and writings have withstood the test of time.
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