Synopsis
Value and Distribution reveals how cost concepts shape value, price, and the distribution of income. It guides readers through classic and modern ideas with a focus on the entrepreneur’s view of production and cost.
This study by Herbert Joseph Davenport analyzes the many ways economists have defined and used the idea of cost. It emphasizes the role of opportunity cost, the relation between profit and cost, and how rent fits into the cost of production. The work situates these ideas in a broader discussion of normal prices, market fluctuations, and the coordinating role of competition.
- Ways cost is defined and applied across classical and modern economic thought.
- The entrepreneur’s perspective on costs, profits, and the allocation of resources.
- How land, rent, and the cost of production interact to determine prices and outputs.
- Concepts like normal price, margins, and how market values adjust over time.
Ideal for readers of economic theory who want a structured approach to how cost concepts drive value and distribution.
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Value and Distribution A Critical and Constructive Study Classic Reprint
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Value and Distribution A Critical and Constructive Study Classic Reprint
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