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The Ethics of Competition (1935)

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The Ethics of Competition was the first volume of collected essays by Knight. The volume was published in honor of Professor Knight's fiftieth birthday. The essays were selected and edited by Milton Friedman, Homer Jones, George Stigler and Allen Wallis. The bibliography of Knight's work included in the volume was initially prepared by Alice Hansen Jones, while she was working as an assistant to Frank Knight in the early 1930s, and was expanded for publication with the assistance of Homer Jones.

The four students who selected the essays chose to focus on collecting articles which represented Knight's philosophical and methodological interests from the early 1920s to the mid-1930s. A deliberate choice was made to include only one article on interest and capital theory, in part because this was a subject on which Knight's views were under alteration (although Knight never did write the book that the preface promised he was at work upon). Only one essay in the volume was previously unpublished: "Economic Theory and Nationalism," which was too long for journal publication in any case.

The Ethics of Competition remains one of the central statements of Knight's thought. As the Times Literary Supplement said of it: "One page after another in [this] book is filled not merely with great wisdom and subtelty, but with constant aphoristic sentences that strike the reader at once with their pertinence and their truth." With only a few interruptions, the volume has remained in print since its publication.

Original Publication

Knight, Frank H. 1935. The Ethics of Competition and Other Essays. New York: Harper & Bros.; London: George Allen & Unwin.


Subsequent Publication History
Knight, Frank H. 1936. The Ethics of Competition and Other Essays. Second edition. New York and London: Harper & Bros.

Knight, Frank H. 1951 [1935]. The Ethics of Competition and Other Essays. Second impression. London: George Allen & Unwin; New York: Augustus M. Kelley.

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Knight, Frank H. 1969 [1935]. The Ethics of Competition and Other Essays. Essay Index Reprint Series. Freeport, NY: Books for Libraries Press.

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Knight, Frank H. 1976 [1935]. The Ethics of Competition and Other Essays. Midway Reprint edition. Chicago: University of Chicago Press.

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Knight, Frank H. 1997. The Ethics of Competition. With a new introduction by Richard Boyd. New Brunswick, NJ and London: Transaction Publishers.


The Ethics of Competition
  • Bibliography
  • Ethics and the Economic Interpretation (1922)
  • The Ethics of Competition (1923)
  • Economic Psychology and the Value Problem (1925)
  • The Limitations of Scientific Method in Economics (1924)
  • Marginal Utility Economics 1931)
  • Statics and Dynamics: Some Queries regarding the Mechanical Analogy in Economics (German: 1930)
  • Cost of Production and Price Over Long and Short Periods (1921)
  • Fallacies in the Interpretation of Social Cost (1924)
  • Value and Price (1935)
  • Interest (1932)
  • Economic Theory and Nationalism

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Last updated: 18-Feb-2010