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3 unusual facts about Richard Lipsey


Canada–United States Free Trade Agreement

Other economists on the free-trade side included John Whalley of the University of Western Ontario and Richard Lipsey of the C.D. Howe Institute.

Richard Lipsey

He is also the author or co-author of several economics textbooks including Positive Economics now in its 12th edition with a co-author, Alec Chrystal, added.

Theory of the second best

Canadian economist Richard Lipsey and Australian economist Kelvin Lancaster showed in a 1956 paper that if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the ones that are usually assumed to be optimal.



see also