STIGLER’S INFLUENTIAL CONTRIBUTION TO ECONOMIC THOUGHT
https://doi.org/10.22146/jieb.22981 Artidiatun Adji(1*)
(1) Universitas Gadjah Mada
(*) Corresponding Author
Abstract
This paper analyzes George J. Stigler’s influential contributions to economic ideas, specifically on industrial structures, the functioning of markets, the causes and effects of public regulation, the economics of information, and on the development of economic thought. Stigler’s most influential contribution to economic thought came in his work on information theory. Treating information as a valuable commodity, he explained why prices differ for identical goods. From his work, many other theories have been built to explain economic behavior. A considerable number of works on decision making under uncertainty could not have progressed without an understanding of the role of information. His swing of the pendulum in economic regulation constitutes a great turnabout. He started research, known as public choice, which assumes that government policy makers are driven by self-interest rather than pure concern for the public’s welfare. His views have now become those of the mainstream.
Keywords
Full Text:
PDFReferences
Current Contents, 1984. “Current Comments: Essays of An Information Scientist”, 15: 3-7
Diamond, Jr., A., 2006. “Measurement, Incentives, and Constraints in Stigler’s Economics of Science”, The European Journal of the History of Economic Thought, 13, no. 1.
Friedman, M., 1999. “George Joseph Stigler: A Biographical Memoir”, National Academy of Sciences, National Academies Press, Washington, DC.
Means, G., 1972. “The Administered-Price Thesis Reconfirmed”. The American Economic Review, 62, 292-306.
Rosen, S., 1993. “George J. Stigler and the Industrial Organization of Economic Thought”. The Journal of Political Economy, 101, (5), 809-817.
Stigler, G. J., 1939. “Production and Distribution in the Short Run”. The Journal of Political Economy, 47, (3), 305-327.
Stigler, G. J., 1940. “Notes on the Theory of Duopoly”. The Journal of Political Economy, 48, (4), 521-542.
Stigler, G. J., 1941. Production and Distribution Theories, the Formative Period. New York, Macmillan.
Stigler, G. J., 1942. The Theory of Competitive Price. New York and London, MacMillan.
Stigler, G. J., 1946. The Theory of Price. New York and London, MacMillan.
Stigler, G. J., 1950. “The Development of Utility Theory. I”, The Journal of Political Economy, 58, (4), 307-327.
Stigler, G., J., 1950. “The Development of Utility Theory. II”, The Journal of Political Economy, 58, (5), 373-396.
Stigler, G. J., 1951. “The Division of Labour is Limited by the Extent of the Market”, The Journal of Political Economy, 59, (3), 185-193.
Stigler, G. J., 1952. “The Ricardian Theory of Value and Distribution”, The Journal of Political Economy, 60, (3), 187-207.
Stigler, G. J., 1953. “Sraffa’s Ricardo”, The American Economic Review, 43, (4), 586-509.
Stigler, G. J., 1957. “Perfect Competition, Historically Contemplated”, The Journal of Political Economy, 65, (1),.1-17.
Stigler, G. J., 1958. “Ricardo and the 93% Labor Theory of Value”, The American Economic Review, 48, (3), 357-367.
Stigler, G. J., 1961. “The Economics of Information”, The Journal of Political Economy, 69, (3), 213-225.
Stigler, G. J., 1962. “Information in the Labor Market”, The Journal of Political Economy, Vol. 70, (5), Part 2: Investment in Human Beings, 94-105.
Stigler, G. J and C. Friedland, 1962. “What Can Regulators Regulate? The Case of Electricity”, The Journal of Law and Economics, 5, 1-16.
Stigler, G. J., 1964. “A Theory of Oligopoly”, The Journal of Political Economy, 72, (1), 44-61.
Stigler, G. J., 1964. “Public Regulation of the Securities Markets”, The Journal of Business, 37, (2), 117-142.
Stigler, G. J, 1965. Essays in the History of Economics. Chicago, The University of Chicago Press.
Stigler, G. J., 1968. The Organization of Industry, Homewood, Ill, Richard D. Irwin, Inc.
Stigler, G. J., and J. K. Kindahl, 1970. The Behavior of Industrial Prices, Columbia University Press.
Stigler, G.J., 1971. “Smith's Travels on the Ship of State”, History of Political Economy, 3 (2), 265–277
Stigler, G. J., and J. K. Kindahl, 1973. “Industrial Prices, as Administered by Dr. Means”, The American Economic Review, 63, (4), 717-721.
Stigler, G. J., 1976. “The Successes and Failures of Professor Smith”, The Journal of Political Economy, 84, (6), 1199-1213.
Stigler, G. J., and G. S. Becker, 1977. “De Gustibus Non Est Disputandum”, The American Economic Review, 67, (2), 76-90.
Stigler, G. J., 1982. “The Process and Progress of Economics”, Nobel Memorial Lecture, Economic Sciences, 57-76.
Stigler, G. J., 1982. “Autobiography”. Available at www.nobel.se/economics/laurates/1982/stigler-bio.html, accessed July 22, 2003.
Stigler, G. J., 1985. Memoirs of an Unregulated Economist. Chicago, University of Chicago Press.
Stigler, G. J., “Monopoly”, 1-6. The Concise Encyclopedia of Economics. Available at www.econlib.org/library/Enc/Monopoly.html, accessed July 22, 2003.
The Concise Encyclopedia of Economics. “Biography of George J. Stigler (1911-1991)”, 1-4. Available at www.econlib.org/library/Enc/bios/Stigler.html, accessed August 10, 2017.
DOI: https://doi.org/10.22146/jieb.22981
Article Metrics
Abstract views : 3838
| 
views : 3546
Refbacks
- There are currently no refbacks.
Copyright (c) 2017 Journal of Indonesian Economy and Business
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
| Journal of Indonesian Economy and Business |
| The Journal of Indonesian Economy and Business (print ISSN 2085-8272; online ISSN 2338-5847) is published by the Faculty of Economics and Business Universitas Gadjah Mada, Indonesia. The content of this website is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License |
| © 2019 Journal of Indonesian Economy and Business | Visitor Statistics |