Maggs Bros.

Inscribed by the author ‘For Bert with best wishes. Milton Friedman’ on the title page.

The full text of the Nobel Prize-winner’s legendary graduate course on price theory taught at the University of Chicago from 1946 to 1962 and again in the mid-1970s, considerably expanded from the mimeographed versions distributed in Friedman’s classes more than a decade prior to publication. Friedman’s knowledge that this mimeographed printing was being circulated, his dissatisfaction with its scrappy nature, and the increase of data acquired over the 1950s, led him to publish the present text in 1962, giving an updated and extended work. Still intended only as a provisional text, it was not until 1976 that Friedman published his finished work, the same year in which he won the Nobel Prize in Economics.