The Liberty Archive FREECAPITALISTS.ORG

First published 1964

Risk, Uncertainty, and Profit

Risk, Uncertainty, and Profit by Frank H. Knight is available as a free PDF download at freecapitalists.org.

Author
Frank H. Knight
First published
1964
Format
PDF
Pages
445
Publisher
Augustus M. Kelley, New York
License
Unverified

Austrian theory & method Markets, trade & industry

Questions

About this book and this copy

Is Risk, Uncertainty, and Profit free to download?
Yes. The complete 445-page PDF downloads directly from this page (28.7 MB). There is no signup, no account and no paywall.
How long is Risk, Uncertainty, and Profit?
445 pages and 13 chapters in the edition this archive serves.
Who wrote Risk, Uncertainty, and Profit?
Frank Knight went from a farming childhood in Illinois to teaching at the University of Chicago, where he influenced many modern economists, including Nobel Laureate James Buchanan.

What's in it

13 chapters · page numbers are this file's

  1. Preface to the First Editionp. 5
  2. Preface to Re-Issuep. 9
  3. Preface for the Reprint of 1948p. 35
  4. Preface for the Reptrint of 1957p. 50
  5. Part One: Introductoryp. 65
  6. Part Two: Perfect Competitionp. 113
  7. Part Three: Imperfect Competition Through Risk and Uncertaintyp. 259
  8. Chapter VII. The Meaning of Risk and Uncertaintyp. 261
  9. VIII. Structures and Methods for Meeting Uncertaintyp. 297
  10. IX. Enterprise and Profitp. 328
  11. X. Enterprise and Profit, cont'dp. 355
  12. XI. Uncertainty and Social Progressp. 377
  13. XII. Social Aspects of Uncertainty and Profitp. 411
Portrait of Frank H. Knight

About the author

Frank H. Knight 1885–1972

Frank Knight went from a farming childhood in Illinois to teaching at the University of Chicago, where he influenced many modern economists, including Nobel Laureate James Buchanan. Read more about Frank H. Knight.

In the lecture archive

Lectures that discuss Risk, Uncertainty, and Profit

Recorded talks in this archive that name this book, each linked to the moment it comes up:

  • Frank H. Knight: The Forgotten Austrian

    Peter G. Klein · Austrian Scholars Conference 2011

    Knight's most important book was his first book, Risk, Uncertainty and Profit, published in 1921, a revised version of his doctoral dissertation at Cornell, and one of the most important and one of the most highly cited books in the …

    Hear it at 5:39

  • An Entrepreneurial Theory of Moral Hazard

    Matt McCaffrey · Austrian Economics Research Conference 2013

    … as economics specifically is concerned, moral hazard entered the literature through the work of Frank Knight in his 1921 book, Risk Uncertainty and Profit, which, of course, includes discussions of the insurance industry and the economic rules that govern it.

    Hear it at 3:41

  • 03. The Revival of the Austrian School: Mises and Rothbard (video)

    Joseph T. Salerno · Austrian School of Economics: Revisionist History and Contemporary Theory

    And instead of Wickstein's treatise as being the main book that entering students should read, he listed Knight's Risk, Uncertainty, and Profit, which was hardly Austrian, because it introduced perfect competition theory.

    Hear it at 32:34

  • Capital, Interest, and Profit

    Murray N. Rothbard · Economics 101

    … brilliant PhD thesis, one of the top two or three PhD theses in the history of economic thought, Risk Uncertainty and Profit, which came out in 1921, where Knight single-handedly He brought the analysis of short-run profits into the picture …

    Hear it at 3:51

  • Preface to Revised Edition

    Murray N. Rothbard · Man, Economy, and State, with Power and Market

    Perhaps the closest approach was Frank H. Knight's Risk, Uncertainty and Profit, and that was published far back in 1921.

    Hear it at 4:30

  • John Rawls

    David Gordon · The History of Political Philosophy: From Plato to Rothbard

    This is derived from the famous book by Frank Knight, The Risk, Uncertainty and Profit.

    Hear it at 41:15

Community

Discuss this book

No thread on Mises Community names this book yet. Start one.