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"No one has ever done price theory better than Alchian-that is, no one has ever excelled Alchian's ability to explain the reason, role, and nuances of prices, of competition, and of property rights. And only a precious few-I can count them on my fingers-have a claim for being considered to have done price theory as well as he did it." -Donald Boudreaux, George Mason University Universal Economics is a new work that builds on the foundation of its two predecessors, University Economics and Exchange and Production.