Alfred Marshall
Alfred Marshall
Alfred Marshallwas one of the most influential economists of his time. His book, Principles of Economics, was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics...
NationalityEnglish
ProfessionEconomist
Date of Birth26 July 1842
book simple topics
Though a simple book can be written on selected topics, the central doctrines of economics are not simple and cannot be made so.
oil imagination done
I admit that these terms and the diagrams connected with them repel some readers, and fill others with the vain imagination that they have mastered difficult economics problems, when really they have done little more than learn the language in which parts of those problems can be expressed, and the machinery by which they can be handled. When the actual conditions of particular problems have not been studied, such knowledge is little better than a derrick for sinking oil-wells erected where there are no oil-bearing strata.