Armen A. Alchian

1914–2013

Nationality: American

Historical Period: The 20th Century and Beyond

Armen A. Alchian was one of the 20th century’s great teachers of economic science, and the co-author, with William R. Allen, of the classic textbook University Economics.

Alchian is known as the founder of the “UCLA tradition” in economics, which emphasizes that individual behavior is self-seeking and rational and that this can have many unanticipated consequences. Alchian has become recognized as one of the most influential voices in the areas of market structure, the theory of the firm, law and economics, resource unemployment, monetary theory and monetary policy.

Read the Liberty Classic Economics Works from Econlib

For additional information about Armen A. Alchian see the following:

See also at our sister website Econlib:

• the Concise Encyclopedia of Economics entry on Alchian

Watch the OLL Video The Intellectual Portrait Series: A Conversation with Armen A. Alchian

• Author: Universal Economics