Studies in Mathematical Economics and Econometrics, In Memory of Henry Schultz

University of Chicago Press. Very Good with no dust jacket. 1942. First Edition; First Printing. Unknown Binding. NOT a print on demand product; this is the first printing published in 1942. No marks other than previous owner's name; no dust jacket. An unusually wide constellation of economists, especially for the university of Chicago, ranging from Lange who Joseph Stalin admired and appointed to high positions In the post-war Communist government in Poland to Milton Friedman, who would later be so strongly Identified with the "Chicago School". The quality of the papers is unusually high for a festscrift. Lange's restatement of Say's Law is one of his finest analytical contributions. Paul Samuelson [certainly in the middle of the road in this group] shows that making the seemingly innocent assumption of the constancy of the marginal utility of money in order to show that demand curves must slope downward implies much more; that all price and income elasticities are one, and all cross elasticities are zero! Friedman joins with W. Allen Wallis [prominent early Bayesian statistician and later President of Rochester U. ] to criticize attempts to empirically measure indifference curves experimentally or through data on prices and expenditures. They argue that such attempts cannot succeed; further measuring indifference curves Is not necessary for making useful predictions of prices and quantities. Interesting papers by Jacob Mosak, Albert Hart, Jan Tinbergen and Charles Roos are also included. ; 6.75 X 4.25 X 1 inches; 292 pages .