According to a frequently cited definition, economics is th… - Tjalling Koopmans

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According to a frequently cited definition, economics is the study of “best use of scarce resources.” The definition is incomplete. “Second best” use of resources, and outright wasteful uses, have equal claim to attention. They are the other side of the coin.

Tjalling Koopmans

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About Tjalling Koopmans

Tjalling Charles Koopmans (August 28, 1910 – February 26, 1985) was a Dutch-American mathematician and economist, the joint winner with Leonid Kantorovich of the 1975 .

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Alternative Names: Tjalling Charles Koopmans • T. C. Koopmans

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Kenneth Arrow George Stigler Ragnar Frisch Paul Ormerod Paul Samuelson

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According to a frequently cited definition, economics is the study of “best use of scarce resources.” The definition is incomplete. “Second best” use… - Tjalling Koopmans

About Tjalling Koopmans

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