The Triumph of Utilitarianism and the Marginalist Revolution

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Second edition

Published in print May 2005 | ISBN: 9780199279142
Published online October 2005 | e-ISBN: 9780191602887 | 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.  15600 words. 

Subjects: History of Economic Thought

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