University of Chicago Press
Economy and Interest
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With contributions by:
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Translated by:
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Preface by:
About this book
The essential work from the Nobel Prize-winning virtuoso of twentieth-century economics, translated to English for the first time.
Few scholars advanced the frontier of economic modeling more than French economist Maurice Allais. Allais’s contributions—beyond his famous Allais’s Paradox—earned him the Nobel Prize and drew comparisons to the works of Paul Samuelson and even some modern mathematical behavioral economists.
Allais’s accomplishments, however, went largely unread by non-Francophone readers due to the challenge of their translation for publishers. The effects of this gap are immeasurable. As Paul Samuelson wrote, “Had Allais's earliest writings been in English, a whole generation of economic theory would have taken a different course.”
Economy and Interest is the milestone translation of Allais's most influential work, one whose staggering findings predate their accepted formulations by other famed economists decades later. In its sweep and technical virtuosity, Economy and Interest is certain to delight and challenge new generations of English-language readers.
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Reviews
“The publication of an English translation of [Economy and Interest] is a significant event for historians of economic thought. It does not only give access for non-French speaking scholars to an important book, it also brings it to light in the author’s country, where it did not reach the celebrity it deserves when it came out in 1947.”
— The European Journal of the History of Economic ThoughtTopics
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Frontmatter
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Contents
vii -
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Preface to the American Edition
xix -
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A Note on the Translation
xxxv -
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To the Reader
xxxvii -
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Chapter One Introduction
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Chapter Two Overview
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Chapter Three The Fable of the Fishermen
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Chapter Four Interest, Capital, and Capitalization
49 -
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Chapter Five Determination of the Equilibrium Rate of Interest on Capital in an Account-Based Economy
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Chapter Six Interest and Social Efficiency
156 -
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Chapter Seven Interest and Social Productivity
184 -
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Chapter Eight Interest and Money
231 -
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Chapter Nine The Problem of Interest
418 -
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Chapter Ten Significance of the General Theory of Interest
501 -
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At the End of a Study (170)
601 -
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The Appendixes. Illustration of the General Theory of Interest by the Study of Simplified Models
605 -
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Appendix I. Illustration of the Theory of Social Productivity
609 -
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Appendix II. Illustration of General Economic Interdependences
619 -
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Appendix III Illustration of the Generalized Theory of Social Efficiency
775 -
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Index
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