| Share
 

Frank Hyneman Knight

Knight, Frank Hyneman, 1885–1972, American economist, b. McLean County, Ill., Ph.D. Cornell, 1916. He taught economics at the Univ. of Chicago (1927–62). Knight's most influential work was his first book, Risk, Uncertainty and Profit (1921), in which he described the relationship between profits and risk in a free market economy. He distinguished insurable risk from uninsurable risk, contending that the latter produced profits. His methodology was the foundation of the Chicago school of economics, which held that competition in a free market economy was the best method for achieving economic health.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

More on Frank Hyneman Knight from Infoplease:

See more Encyclopedia articles on: Economics: Biographies


Premium Partner Content
HighBeam Research
Documents Images and Maps Reference
(from Newspapers, Magazines, Journals, Newswires, Transcripts and Books)

Research our extensive archive of more than 80 million articles from 6,500 publications.

Additional search results provided by HighBeam Research, LLC. © Copyright 2005. All rights reserved.

24 X 7

Private Tutor

Click Here for Details
24 x 7 Tutor Availability
Unlimited Online Tutoring
1-on-1 Tutoring