Economists
Alfred Marshall
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Alfred Marshall was a British economist whose 1890 Principles of Economics unified the independent marginalist work of William Stanley Jevons, Leon Walras and Carl Menger into the supply-and-demand, marginal-utility framework that became neoclassical economics. Holding the chair of political economy at Cambridge from 1885, he trained a generation of British economists, including John Maynard Keynes, and popularized tools, consumer surplus, price elasticity, the representative firm, still taught as introductory economics more than a century later.
Facts
Cross-Tradition Connections
Associated With School
Marshall built the Cambridge economics tripos from the 1880s and his own supply-and-demand marginalist synthesis defined the school's early character.
Concepts Originated
Influenced
Additional Source WikipediaJohn Maynard Keynes, "Early life and education" section Sources
1. Principles of Economics
Alfred Marshall, Macmillan, 1890
1. Principles of Economics
Alfred Marshall, Macmillan, 1890Concepts Originated: Consumer Surplus, Book III, Chapter VIQuote, Concepts Originated: Consumer Surplus, Book III, Chapter VI
Marshall popularized consumer surplus in his Principles of Economics, building on the engineer Jules Dupuit's earlier work.
Wikipedia
Wikimedia FoundationAssociated With School: Cambridge School, Cambridge capital controversy, The two CambridgesQuote, Associated With School: Cambridge School, Cambridge capital controversy, The two Cambridges
The English Cambridge side concentrated on adjustments to the saving ratio through changes in the distribution of income between wages and profits.
Wikipedia
Wikimedia FoundationInfluenced: John Maynard Keynes, John Maynard Keynes, "Early life and education" sectionQuote, Influenced: John Maynard Keynes, John Maynard Keynes, "Early life and education" section
Alfred Marshall begged Keynes to become an economist
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