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The Nature of Economics:Smith, Coase, and the Substitution Structure of Production

Author

Listed:
  • De-Xing Guan

    (National Taipei University, Taiwan)

Abstract

This book conveys a simple idea: that the economic framework established by Smith and Coase is very useful in describing and explaining many facts in the real world.

Suggested Citation

  • De-Xing Guan, 2025. "The Nature of Economics:Smith, Coase, and the Substitution Structure of Production," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 13875, August.
    • Handle: RePEc:wsi:wsbook:13875
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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/13875
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    More about this item

    Keywords

    Smith-Coase Framework; Principle of Least Cost; Law of Demand without Utility; Say's Law; Substitution Structure of Production; Coase Theorem; Coase Conjecture; Transaction Cost; User Cost; Quality Theory of Money; Dissipation of Rent; Acquired Advantage; Sympathy; Impartial Spectator; Shannon Theorem; Kelly Criterion; Information and Noise; Morishima Elasticity of Substitution; Enemies of the Enemy are Friends;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

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