The English Marginalists


Supply as Inverse Demand (from Wicksteed, 1914, EJ)

By the "English Marginalists" we are referring to early English economists between the 1870s and the 1930s who strayed from the Marshallian and English Historicist schools which were then dominant in the UK.  Many of those on this list could thus be deemed "followers" of William Stanley Jevons, in that they articulated a subjective theory of value, adopted the mathematical method of reasoning  and emphasized the radical break with Classical economics inherent in Jevons's revolution.  Thus, in many ways, these "Jevonian" English Marginalists were closer to their continental counterparts of the Lausanne and Austrian schools than the more conciliatory variety of Neoclassicism developed by Alfred Marshall and his Cambridge school.

See also the British Anti-Classicals for a review of some English proto-marginalists and our discussion of the 1930s  L.S.E. and the Paretians for the continuation of this line in Britain.



Resources on English Marginalism

  • "The Meaning and Causes of Value", by Albert S. Bolles, 1873, North American Review [moa]
  • "Theory of Exchange Value", by G.H. Darwin 1875, Fortnightly Review, p.243
  • "A New Standard of Value", by Walter Bagehot, 1875, The Economist [McM]
  • "Postulates of English Political Economy",  by Walter Bagehot,  pt.1, pt.2, 1876, Fortnightly Review
  • "Economic 'Laws' and Economic Facts", by John Wilson, 1877, Quarterly Review (Jul), p.57
  • "Néoclassiques" by Professeur Friboulet at Genève
  • "Generalized Increasing Returns, Euler's Theorem, and Competitive Equilibrium"  by James M. Buchanan and Yong J. Yoon (1999), HOPE 


All rights reserved, Gonçalo L. Fonseca


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