Foreword xi
1. The Practice and Method of Economic Theory Is Economics the Science of Choice? 3
General Implications of Subjectivism in Economics 22
There Is a Science of Economics 30
Economics as a Public Science 44
Ceteris Paribus: Some Notes on Methodology 52
Marshall's Mathematical Note XIX
(James M. Buchanan and Charles Plott) 67
The Normative Purpose of Economic ``Science'': Rediscovery of an Eighteenth Century Method
(Geoffrey Brennan and James M. Buchanan) 70
Predictive Power and the Choice among Regimes
(Geoffrey Brennan and James M. Buchanan) 87
The Economizing Element in Knight's Ethical Critique of Capitalist Order 110 Professor Alchian on Economic Method 128
2. Competition and Entrepreneurship Cognition, Choice, and Entrepreneurship
(James M. Buchanan and Alberto di Pierro) 141
Resource Allocation and Entrepreneurship 154
Entrepreneurship and the Internalization of Externalities
(James M. Buchanan and Roger L. Faith) 169
3. The Theory of Monopoly The Theory of Monopolistic Quantity Discounts 191
The “Dead Hand” of Monopoly
(James M. Buchanan and Gordon Tullock) 206
On Monopoly Price
(Geoffrey Brennan, James M. Buchanan, and Dwight Lee) 219
A Regional Countermeasure to National Wage Standardization
(James M. Buchanan and John E. Moes) 236
4. Input Prices Saving and the Rate of Interest: A Comment 245
The Backbending Supply Curve of Labor: An Example of Doctrinal Retrogression? 253
The Homogenization of Heterogeneous Inputs
(James M. Buchanan and Robert D. Tollison) 260
Trying Again to Value a Life
(James M. Buchanan and Roger L. Faith) 278
5. Opportunity Cost and Efficient Prices Opportunity Costs and Legal Institutions 285
Peak Loads and Efficient Pricing: Comment 298
The Optimality of Pure Competition in the Capacity Problem: Comment 308
Private Ownership and Common Usage: The Road Case Re-examined 311
Introduction: L. S. E. Cost Theory in Retrospect 327
6. Increasing Returns and the Work Ethic Economic Interdependence and the Work Ethic 343
The Economics and the Ethics of Idleness 366
The Simple Economics of the Menial Servant 377
Constitutional Implications of Alternative Models of Increasing Returns
(James M. Buchanan and Yong J. Yoon) 388
Who Cares Whether the Commons Are Privatized? 397
7. Economic Theory in a Postsocialist World Asymmetrical Reciprocity in Market Exchange: Implications for Economies in Transition 409
Economic Science and Cultural Diversity 426
Structure-Induced Behaviour in Markets and in Politics 435
We Should Save More in Our Own Economic Interest 453
Economic Theory in the Postrevolutionary Moment of the 1990s 470
Name Index 487
Subject Index 491
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