Wicksteed was to make important contributions to the development of the Jevonian form of marginalism
through his detailed exposition of how the fundamental Jevonian theorems of exchange in mathematical form connect to the everyday experiences of life.
The main shortcoming of the three chapters on marginalism
is that they have not fully met the editors' objectives for the volume concerning the importance of interpretive perspectives and historical controversy.
Again, for the student of marginalism
, Sen is distinguished for having rehabilitated welfare theory, which took a blow from Arrow's critique, on grounds that are clearly contradictory with the notion of subjective preferences.
But for the addition of a bit of math, the economic theory of consumer behavior did not change much for the better part of a century after the rise of marginalism
and neoclassical economics in the 1870s.
comes into play: Holmes was willing to tolerate small
This double linguistic matrix seems to reflect how Naipaul perceives the written form, which he considers to be the only means for effective communication; the oral form is not sufficiently dignified and is therefore limited to expressing the thoughts of the characters who embody colonial marginalism
Unemployment and unemployment rate became "crucial" in all economic theories focusing on the gap between labour supply and demand--from pre-Keynesian marginalism
(e.g., Pigou) to Keynesian neoclassical synthesis and "new Keynesian" approaches, from the monetarist school to rational expectation (market clearing) theories.
Their hodgepodge of beliefs, half-truths and rarefied experiences seems to come equally from extreme marginalism
and middle-of-the-road Americana.
The late economist Bronfenbrenner published this work in 1971 as a defense and extension of neoclassical income distribution theory against "ultra-Keynesians" who wished to discard marginalism
and the production function and insisted on the primacy of output markets in the determination of distribution.
As presented in the "Birth of Bio-Politics" (from 1978-9), for instance, his analysis of political economy--from the physiocrats: Ferguson, Smith, Ricardo, and Marx--through marginalism
: Sombart and Weber--to the obscure founders of German Ordo-liberalism and its American descendants in the Chicago school--is something of a tour de force.
Thus there is a tension between marginalism
and co-optation; between being dismissed as too radical or unrealistic and coming to legitimize the conditions to which one is opposed.