THEORY OF WAGES

The Macmillan Comoany. Very Good with no dust jacket. 1934. 1st Ed, 1st Prtg. Cloth. some small chips and creases at top & bottom of spine; lettering dull, but readable; some pencil marginal notes, comments. xx + 639 pp. An earlier and shorter version of this work won the top prize of $5,000 in the 1924 Hart, Schaffner & Marx competition. The judges included Edwin Gay, John Bates Clark and Wesley Clair Mitchell. In the intervening decade Douglas began to work with Charles Cobb and the Cobb-Douglas production function first appeared in the AER in March, 1928. This book contains a derivation of that equationon pp. 155 - 158. Douglas credits Cobb and Aaron Director [!][Director was later Prof. at the the U. of Chicago Law School, the brother-in-law of Milton Friedman and one of the founders of the "Law and Economics" movement. .