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Armen A. Alchian (1914-2013)

The world has lost two of the past century’s greatest economists in as many months: Armen Alchian died this morning.  I just learned this sad news from an e-mail sent by Steve Pejovich – coincidentally just after I’d finished posting my Quotation of the Day (one from Alchian).

More later on this great economist – a scholar who, I believe, probably is history’s greatest pure microeconomic theorist.