Economists and decision makers act as if effort depends upon individuals and circumstances. The concept of effort explains many economic activities, yet variations in effort itself have not systematically been taken into account in economic theory and applications. This innovative book takes the concept of effort and places it in the context of economic analysis. Effort, argues the author, is a function of one's current wealth and one's need and opportunity to increase it. Simon applies this appealingly basic idea to all fields of economic behaviour - the theory of the firm, economic development, population and migration - and to topics as diverse as the decline of empires and professorial tenure. He also demonstrates some surprising implications for our understanding of competition and monopoly.
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