Tag Archives: Alfred Marshall

This is a key observation of Alfred Marshall that predicts the development of post-classical economics, which came to be dominated by neoclassical economics, although it was overshadowed for a time by Keynesianism, owing to the pressures of the time (war, depression, and another war). The key observation is this: Marshall notes that when people think about the main intellectual contribution of Adam Smith, they often point to what we now refer to as the "invisible hand" idea--that when...

Avoiding mathiness and economism. Conversable EconomistSome Thoughts About Economic Exposition in Math and WordsTimothy Taylor | Managing editor of the Journal of Economic Perspectives, based at Macalester College in St. Paul, Minnesota