University Press of America
Trim: 6¼ x 9¼
978-0-7618-5481-4 • Paperback • June 2011 • $69.99 • (£54.00)
978-0-7618-5482-1 • eBook • June 2011 • $62.50 • (£48.00)
M. Northrup Buechner has taught economics at St. John's University, New York, for forty years. He has published articles in The New York Times, The Objectivist Forum, The Southern Economic Journal, and other scholarly and popular publications. He has lectured on many college campuses and has spoken at Objectivist and economic conferences around the world.
Chapter One: Method and Context
Chapter Two: Objective Economic Value
Chapter Three: Fundamental Economic Concepts
Chapter Four: Foundational Theories
Chapter Five: Introduction to the Theory of Objective Prices
Chapter Six: Someone Sets the Price
Chapter Seven: The Other Methods of Price Creation
Chapter Eight: The Theory of Objective Prices
Chapter Nine: The Factors of Production
Chapter Ten: Changes in Objective Prices I: The Effect of Changes in Facts on Set Prices
Chapter Eleven: Changes in Objective Prices II: The Effect of Changes in Facts on Other Prices
Chapter Twelve: Scarcity and Profit
Chapter Thirteen: Total Spending and Production
Appendix A: The Theory of Price in Modern Economics: A Critique
Appendix B: The Method of Modern Economics: A Critique
Appendix C: Marginalism in Modern Economics: A Critique
Appendix D: The Meaning of Scarcity in Modern Economics: A Critique
Appendix E: The Effect of Changes in Cost on Set Prices: Expansion of the Argument in Chapter Ten
Once every decade or so a book is published that changes the way people view a topic, even if they consider themselves experts in that area. I believe that Professor Buechner's new text will be one of those rare books. Forget the pop-culture economics books that have appeared on the scene in recent years with their anecdotes about crime waves and parking meters. If one truly wishes to learn about the not so 'dismal science,' Objective Economics is the book to read. I intend to recommend it to all of my students.
— Dr. George A. Mangiero, Iona College
Professor Buechner presents a comprehensive theory of prices demonstrating how the economy is shaped by individual businessmen grasping and evaluating facts of reality.
— Shrikant Rangnekar, partner, ILW.com
This is the first economics text to emphasize a central truth about economics: that the fundamental concept of economic thought is economic value. By placing value first and grasping its objective nature, Professor Buechner cuts through the convolutions of modern economics, and provides a solid grounding for issues such as exchange, price, supply, and demand. Students and professionals now have a starting point for economic thinking that is far superior to the 'scarcity' or 'distribution' models in most texts today.
— Dr. John David Lewis, Duke University
Professor Buechner presents a new theory of price in this book. A lifelong admirer of Ayn Rand, he has built his theory on her philosophy of Objectivism and created an original conception of the economy and how it works. His book is written for the economist or noneconomist, particularly those who always thought 'I just can't understand economics.' After 40 years as an economic consultant, I wish I had had this book to read when I began my career.
— M. Kathryn Eickhoff, Eickhoff Economics, Inc.