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We examine Ralph W. Souter's defence, in the 1930s, of Marshall's Principles against Robbins' attempt to recast … economics as a 'purely formal science of implications'. Souter elaborated on Marshall's invocations progressively to increase … the realism of economic science and contrasted this perspective on Marshall with Robbins' atomistic bias, neglect of …
Persistent link: https://www.econbiz.de/10009480712
This note comments briefly on Mehdad Vahabi's article on Alfred Marshall's concept of "Normal Value." It points out, in … particular, the relationship between normality and equilibrium in the context of Marshall's moving equilibrium method. …
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's approach to the extreme and neglects the possibility of slowly changing structures, as conceived by Marshall. The position is …
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After many explorations in different directions during the early 1930s, in 1934 Hicks ends up by advocating an interpretation of Walrasian equilibrium and capital theory along stationary lines, but the suggested interpretation is at variance with the view endorsed by the last Walras and by...
Persistent link: https://www.econbiz.de/10009324414
In this paper we contrast the received view according to which Walras' and Marshall's approaches to price theory, while … shown to be at variance with Marshall's assumptions and conception. In the second place, it will be shown that, starting …' characteristics and the nature of the commodities involved, one of which must be money or a money-like commodity, Marshall can indeed …
Persistent link: https://www.econbiz.de/10009324462
This paper discusses the relation between law and contingency in the formation of value. It begins from a much-ignored assertion of Marx, repeated throughout his works, that the equality of supply and demand is contingent and their non-equality constitutes their law. This highly complex and...
Persistent link: https://www.econbiz.de/10005789658
between market à la Walras and market clearing à la Marshall exists : in the former market clearing is equilibrium, while in … labour market. Again the conclusion reached is affirmative both for Marshall’s theory and for present-day Marshallian models …
Persistent link: https://www.econbiz.de/10004984705
The neglect and misinterpretation of Marshall's treatment of time led many of his followers and critics to overlook the … failure to fully understand the purpose and method of Marshall's analysis. Marshall's methodological struggles in Principles … the process of economic development that is continuous in time. Marshall was unable to resolve the conflict arising from …
Persistent link: https://www.econbiz.de/10005462956