- Publisher: Aldine Publishing Co. (1971)
- ASIN: B0037EZAFG
- Average Customer Review: 4.7 out of 5 stars See all reviews (11 customer reviews)
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Price Theory Hardcover – 1971
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Top Customer Reviews
Having said that, be careful which version of this classic book you buy:
Price Theory is the first, 1962, version. It's now of historical interest only.
Price Theory reprints the 1976 revision originally published by Aldine (also available used on Amazon as Price Theory), with a short introduction by Steven Medema, in paperback. If you want a crisp, new paperback copy of this book, this is the one to buy.
Price Theory from the publisher called "The Richest Man in Babylon" is, quite simply, a ripoff! It appears to be a reprint of the first published version, or possibly an early samizdat version of Friedman's notes. There's no excuse for selling a version of this vintage without making clear that it does not include Friedman's later revisions. Don't waste your money.
You can put that in perspective when I tell you I spent ten years at Chicago, earning both my bachelor's and PhD -- by this I mean I took a lot of economics courses. If you know anything about the Chicago School of Economics you are aware that price theory occupies a special place in their scheme of things.
The good Doctor retired from Chicago around 1973 or 1974, if I am not mistaken (he moved to the Hoover Institution. You can't take "Milton" on price theory today -- but you can read his book. And it what a fine book it is. I recommend reading George Stigler's "The Theory of Price" before attemption this book. Master them both and you will have a very solid foothold on price theory.
I strongly recommend to read this textbook in microeconomics before starting others, with a more mathematical approach.
It is truly unfortunate that Professor Friedman spent most of his professional life developing the macroeconomic and monetary literature, when he was so very lucid in the more important topics of price theory and political economy. But make use of the treats that he left us, even if they are far too few.
Upon finding that 3 of the problems assigned by my professor (from his old copy of the 1976 edition) were not in the book, I read the reviews more carefully and found that this version is probably a reprint of the 1962 edition and not complete with Friedman's thoughts and analysis as of 1976.
Amazon needs to note which edition the new paperbacks are reprinting! I would not have bought the book if I had suspected that it did not have the full information from 1976.
Most Recent Customer Reviews
brand new, no underlining or wear or tear marks. Excellent hard copy, definitely worth keeping, and great value for money overall.Published on March 1, 2013 by Sheraz Latif Malik
It is a good book. Nice to have it and it is shipping immediately and in good shape.Published on May 4, 2010 by Wenjin Hu
This is a good book and the seller is good too. The book delivered earlier than I had expected.Published on May 20, 2009 by Zhibo He