• Publications
  • Influence
Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure
This paper integrates elements from the theory of agency, the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept ofExpand
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The Perception of Man and the Conception of Government
The long-run tendency toward expansion of government that has dominated social developments in the Western democracies for many years is attracting increasing attention from an array of socialExpand
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An Exact Consumption-Loan Model of Interest: A Comment
IN A recent issue of this Journal, Professor Paul Samuelson has provided a delightful flight round the economy of Mars.2 The Martian economy, it turns out, has a very vexing problem. All Martians areExpand
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Financial Markets, Default, and Bankruptcy: The Role of the State
If economists learn anything from the debate which has accompanied recent efforts to rewrite our bankruptcy law, it should be a sense of modesty about our bankruptcy system. As the product ofExpand
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The Political Biases of Keynesian Economics
Once upon a time it was generally believed that, so long as prevailing institutions constrained monetary excesses, a freeenterprise economy was self-adjusting within broad cyclical limits. MovementsExpand
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Economic aspects of communication satellite systems
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The impact of a decline in cigarette smoking on the cigarette industry.
  • W. H. Meckling
  • Medicine
  • American journal of public health and the nation…
  • 1 December 1966
s a newcomer to the great debate over A cigarette smoking and health, it seems prudent at the outset to explicitly state one or two caveats. My remarks are addressed to the impact on the cigaretteExpand
Economics and Space Technology