Economy and Interest: A New Presentation of the Fundamental Problems Related to the Economic Role of the Rate of Interest and Their Solutions

By: Maurice Allais

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Synopsis: The essential work from the Nobel Prize-winning virtuoso of twentieth-century economics, translated to English for the first time. Few scholars advanced the frontier of economic modeling more than French economist Maurice Allais. Allais’s contributions—beyond his famous Allais’s Paradox—earned him the Nobel Prize and drew comparisons to the works of Paul Samuelson and even some modern mathematical behavioral economists. Allais’s accomplishments, however, went largely unread by non-Francophone readers due to the challenge of their translation for publishers. The effects of this gap are immeasurable. As Paul Samuelson wrote, “Had Allais's earliest writings been in English, a whole generation of economic theory would have taken a different course.” Economy and Interest is the milestone translation of Allais's most influential work, one whose staggering findings predate their accepted formulations by other famed economists decades later. In its sweep and technical virtuosity, Economy and Interest is certain to delight and challenge new generations of English-language readers.