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Armen Alchian Quotes

d. 2013 United States

Armen Albert Alchian (April 12, 1914 – February 19, 2013) was an American economist and an Emeritus Professor of Economics at the University of California, Los Angeles. He was the founder of the "UCLA tradition" in economics, a member of the Chicago school of economics, and one of the more prominent price theorists of the second half of the 20th century.

United States
Academics
Economists

Also known as: Alchian, Armen, Armen A. Alchian

Random Armen Alchian quote

3 quotes

It is a general prevalence of double coincidence of information rather than wants by both parties that would avoid the use of money.

Where foresight is uncertain, “profit maximization” is meaningless as a guide to specifiable action.

The greater the uncertainties of the world, the greater is the possibility that profits would go to venturesome and lucky rather than to logical, careful, fact-gathering individuals.

Attribution

Quotes and notes from Wikiquote: Armen Alchian (page history), available under CC BY-SA 4.0.