1. Welfare Economics and the Theory of the State (1952)
This book, co-authored with Robin Marris, is considered a foundational work in welfare economics. It explores the economic analysis of social welfare and discusses the role of the state in achieving optimal resource allocation and welfare maximization.
2. Economic Theory and Operations Analysis (1959)
In this book, Baumol applies mathematical and optimization techniques to analyze economic problems and decision-making. It combines economic theory with operations research methods, laying the groundwork for subsequent developments in managerial economics.
3. Business Behavior, Value and Growth (1959)
This work examines the theory of the firm and analyzes the growth and behavior of business organizations. Baumol develops a model of business growth that incorporates factors such as research and development, innovation, and investment.
4. The Economics of Technological Change (1968)
In this book, Baumol explores the economic implications of technological advancement. He discusses how technological change affects productivity, employment, and economic growth.
5. Entrepreneurship in Economic Theory (1990)
Baumol presents an economic analysis of entrepreneurship and its role in economic growth. He argues that entrepreneurship involves recognizing and exploiting opportunities, and is a crucial factor in economic progress.
6. The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism (2002)
In this book, Baumol examines the factors behind economic growth and innovation in capitalist economies. He argues that the profit motive and the structure of free markets foster technological advancement and economic prosperity.
7. The Microtheory of Innovative Competition (2010)
Baumol's final work investigates the microeconomic foundations of innovation and competition. He analyzes how firms compete in markets characterized by innovation and technological change.
These are just a few of the many influential works by William J. Baumol. His contributions to economics have had a lasting impact on the field and continue to be studied and referenced by scholars and researchers worldwide.