With this first of eight volumes, the eminent economist Fritz Machlup launches his monumental inquiry into the production of knowledge as an economic activity. Volume I presents the conceptual framework for this inquiry and falls into three parts: Types of Knowledge, Qualities of Knowledge, and Knowledge as a Product. Originally published in 1981. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Volume II of this ten-volume work, examines the parts of intellectual knowledge that have been considered worth teaching in institutions of higher learning. To judge what to teach, it was necessary to classify. Originally published in 1982. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Volume III examines in clear and elegant prose the roles of knowledge and information in economics. Part One analyzes the effects of new or uncertain information on market performance; examines the formation and revision of expectations; and provides a classification of literature and an extensive bibliography. Part Two discusses private and social valuations of education and training, the controversy over nature vs. nurture," the issue of "credentialism," and the depreciation of human capital. Originally published in 1984. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.