Price Theory

Price Theory: A Provisional Text is a book written by the renowned economist Milton Friedman and first published in 1962. The book provides a comprehensive introduction to the principles of price theory, which is the study of how markets determine prices and allocate resources. The book is divided into two parts. The first part introduces the basic concepts of price theory, including supply and demand, consumer behavior, and market equilibrium. It also covers topics such as elasticity, production, and costs. The second part of the book applies these concepts to specific markets, including labor markets, financial markets, and markets for natural resources.Throughout the book, Friedman emphasizes the importance of free markets and the role of prices in coordinating economic activity. He argues that markets are the most efficient way to allocate resources and that government intervention in markets can lead to unintended consequences. Price Theory: A Provisional Text is written in a clear and concise style, making it accessible to both students and professionals in the field of economics. It is considered a classic text in the field of price theory and has been widely influential in shaping economic thought.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.