The Triumph of Utilitarianism and the Marginalist Revolution

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print August 1995 | ISBN: 9780198774556
Published online November 2003 | e-ISBN: 9780191717383 | DOI:
 The Triumph of Utilitarianism and the Marginalist Revolution

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Exposes the basic principles of neoclassical theoretical system and then provides an answer to the question: was the marginalist a real revolution? The specific contributions of Jevons, Menger, and Walras are considered in some detail. The reasons for success of the marginalist revolution are finally discussed.

Keywords: allocation of resources; auctioneer; general equilibrium; imputation; marginal utility; Methodenstreit; methodological individualism; opportunity cost; scarcity

Chapter.  15561 words. 

Subjects: History of Economic Thought

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