The fifteen essays in this collection, first published in 1947, treat a variety of economic, social, political, and philosophical problems and were written by a legendary professor of economics at the University of Chicago.
Professor Knight (1885–1972) wrote from the viewpoint of ethics as well as economics. His own words best describe his objective in this book: “The basic principle of science—truth or objectivity—is essentially a moral principle. . . . The presuppositions of objectivity are integrity, competence, humility. . . . All coercion is absolutely excluded in favor of free meeting of free minds.”