Marshall and the development of 'Neoclassical' economics

Neil Hart

    Research output: Contribution to journalArticle

    Abstract

    Historians of Economic thought normally regard Alfred Marshall as one of the key figures in what has come to be known as 'neoclassical economics'. However, Marshall's analysis departs significantly from many of the prominent 'neoclassical cofounders', and consequently his contributions need to be considered separately from other 'neoclassicals'. His departures from purist 'neoclassical' analysis can be most clearly illustrated in his treatment of increasing returns, where the limitations of the 'neoclassical' tools of analysis are clearly exposed.
    Original languageEnglish
    JournalInternational Journal of Applied Economics and Econometrics
    Publication statusPublished - 2002

    Keywords

    • Marshall, Alfred, 1842-1924
    • economic research
    • economic thought
    • analysis

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