George Stigler, like Piero Sraffa before him, characterised Marshall's doctrine of external economies as playing a major role in permitting an analytical reconciliation of competition and increasing returns, thus repairing a major gap in classical price theory. However, such a characterisation...

Alfred Marshall has traditionally been listed alongside pioneering 'neoclassical' economists. In this volume Neil Hart challenges this view, illuminating the ambiguities within Marshall's work, and exploring his reconciliation of two modes of thinking, equilibrium economics and evolutionary...

Alfred Marshall and Modern Economics re-examines Marshall's legacy and relevance to modern economic analysis with the more settled conventional wisdom concerning evolutionary processes allowing advances in economic theorising which were not possible in Marshall's life time.