The economics of Alfred Marshall is reassessed in the light of new developments in the natural sciences whereby a nonequilibrium thermodynamic approach is adopted to analyze self-organization in dissipative structures. It is argued that there is a clear correspondence between Marshall's...

An evolutionary approach, which focuses upon the behavior of banks and their institutional links with the Bank of England, is used to understand the process of Sterling M3 determination over 1963-88. It is argued, on several grounds, that this supply-side approach is more fruitful than one that...