Armen Alchian is an American economist who was born in Fresno California and who now teaches at UCLA. His major article was "Uncertainty, Evolution, and Economic Theory", is which he argued, that while all firms may not maximize profits, those that survive will be the one's that are managed so as to maximize profit.
Alchians' primary focus in economics ws in the area of property rights. He used the analysis of property rights to explain the existance of discrimination. Discrimination is costly, therefore, it is more prevalent in situations where those who discriminate do not bear much of the cost of doing so, such as a company who's profit is regulated by government.
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