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> Alfred Marshall and Neoclassicism
11 September 2010
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Alfred Marshall and Neoclassicism
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Category :
Business audio books
Publisher :
Blackstone Audio Inc
Author :
Dr. Robert Hbert
Narrator :
Louis Rukeyser
Length :
2 hours 30 minutes (Unabridged)
Download Price :
$8.99
Format :
Encoded Windows Media
© 2006 Blackstone Audio Inc
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Alfred Marshall, (1842-1924) a British economics professor at Oxford University, developed
economics into a more rigorous, professional discipline than ever before. He invented concepts such as
price elasticity, the representative firm, consumer's surplus, and other ideas that significantly enlarged the
"analytical tool kit" of the economist.
Darwin's ideas about biological evolution especially influenced Marshall, who learned a great deal about
economic behavior by viewing a business firm as a biological organism, complete with a life cycle. He is
perhaps best remembered for explaining the interaction of supply (i.e. costs of production) and demand (i.e.
consumer utility), using the famous "scissors" metaphor to explain how these forces determine the price of
an object.
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