Alfred Marshall


Also found in: Financial, Wikipedia.

Marshall, Alfred

 

Born July 26, 1842, in London; died July 13, 1924, in Cambridge. English economist, professor of political economy at Cambridge University (1885-1908).

Marshall founded the Cambridge School of vulgar political economy. He considered himself a successor of D. Ricardo and interpreted his teachings in a subjective and psychological spirit. Marshall eclectically combined already established vulgar theories of the costs of production, demand and supply, productivity, and abstention with the theories of marginal utility and marginal productivity that had become widespread in the late 19th century. Marshall tried to extend the teachings of C. Darwin to the field of social relations. Under the influence of H. Spencer, he viewed evolution as the only form of social development and propagated the false idea of the smooth development of the capitalist economy. In his research Marshall used mathematical and graphic methods of analysis. Marshall’s views had a great influence on the development of bourgeois economic thought and are important in modern bourgeois economic science.

WORKS

The Pure Theory of Foreign Trade and the Pure Theory of Domestic Values. London, 1879.
The Economics of Industry. London, 1889.
Principles of Economics. London, 1890.
Elements of Economics. London, 1892.
Industry and Trade. London, 1919.
Money, Credit and Commerce. London, 1923.
References in periodicals archive ?
In a different context Alfred Marshall approvingly quotes a similar statement by Mill.
Coase's book is valuable in giving more complete information on Alfred Marshall, his family, and the factors and personalities affecting his choice of Pigou as successor.
W., "Marshall and Ethics" in Rita McWilliams Tueberg (ed.) Alfred Marshall in Retrospect, Elgar, (1990) pp.
The concept of time has been central in economics since at least Alfred Marshall. The distinction between the short-run and the long-run is rather well-accepted and uniform in microeconomics and depends on the ability of a firm to adjust or vary its factors of production.
The following passage from Alfred Marshall's Principles of Economics [3] quoted by Richard Nelson in the survey mentioned above is pertinent to understanding the genesis of evolutionary theorizing in economics:
Coase also writes at length on Alfred Marshall, arguably the greatest economist of the late 19th century.
The origins of the "new" social history can be traced to the attacks of radical and Marxist historians of the 1950s on the traditional practices of economic history as they had been handed down since Alfred Marshall's day.
C Riko Stevens: Early Development of Economic Thought on Speculation: Contributions of Alfred Marshall and Arthur T.
The authors advance the work of Joseph Cropsey to the next step by analyzing not only the work of the founders of the discipline but also seminal contributors to modern economic thought including Thomas Hobbes, John Locke, Adam Smith, Alfred Marshall, John Maynard Keynes, Friedrich Hayek, Gunnar Myrdal, Robert E.
Most Anglophone economists take Alfred Marshall to be the father of neoclassical economics.
Yoon edited an impressive collection of essays on increasing returns, ranging from classical origins of Adam Smith, Alfred Marshall, Allyn Young to more recent developments in trade, growth, macroeconomics and the economics of ethics by such authors as Paul Krugman, Martin L.