Background
Richardson, George Barclay was born on September 19, 1924 in London. Son of George and Christina Hopper Richardson.
(This book, first published in 1960 and now updated, offer...)
This book, first published in 1960 and now updated, offers a theoretical examination of the effects on investment of uncertainty resulting from inadequate information. The author investigates the limitations of the theory of distribution, and the misrepresentations which have been the result of too great a dependence upon the classical mode of competitive equilibrium.
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Richardson, George Barclay was born on September 19, 1924 in London. Son of George and Christina Hopper Richardson.
Bachelor of Science in Physics and Mathematics, University Aberdeen, Scotland, 1944. Master of Arts in Philosophy, Politics and Economics, Corpus Christ College, University Oxford, 1949.
3rd secretary Her Majesty's Foreign Office, London, 1949—1950. Fellow St. John's College, University Oxford, since 1951, university reader in economics, 1969—1973. Secretary to delegations, chief executive Oxford University Press, since 1974, delegate, 1971—1974.
Honorary fellow Corpus Christi College, Oxford, since 1987. Member Economic Development Committee Electrical Engineering Industry, 1964—1973, Monopolies Commission, 1969—1974, Royal Commission Environmental Pollution, 1973—1974. Economic adviser United Kingdom Atomic Energy Authority, 1968—1974.
Lieutenant Royal Naval Reserve, 1945-1946.
(This book, first published in 1960 and now updated, offer...)
Author: Information and Investment, 1960, Economic Theory, 1964.
My central theoretical interest developed from the appreciation that the market structure identified with perfect competition would not permit the attainment of the associated equilibrium configuration, whatever definition were given to the perfect knowledge, usually assumed to be requisite to this end. This led me to consider the market conditions under which this equilibrium could be reached and I found, paradoxically, that these involved so-called ‘imperfections’ such as small numbers, understandings on price, goodwill, and so on. These ideas were advanced in my book Information and Investment.
Given these theoretical preoccupations, it was natural for me to become interested in industrial economics and the problems of monopoly and competition. My pamphlet on the heavy electrical industry in the United Kingdom is an example reflecting this interest. My theoretical interests also led me to write an introductory textbook (Economic Theory) that started with normative rather than positive economics, i.e. by identifying the conditions for optimal allocation and then discussing the market arrangements favourable to the attainment of this allocation in practice.
Economics Development Committee Electrical Engineering Industry 1964-1973, Monopolies Commission 1969-1974, Royal Commission, on Environmental Pollution 1973-1974. Council, Publishers’ Association 1981-1987.
Married Isabel Aison Chalk. Children: Graham, Andrew.