58 min
Chapter 64: Economic Ideas (The Neoclassics) The Industrial Revolutions
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- History
Beginning in the 1870s, the Neoclassical School of Economics emerged. Borrowing the idea of marginal analysis from calculus, and applying it to the ethical theory of Utilitarianism, they revolutionized the way economics was discussed. Today, we discuss the various “Marginalists” of this school, and the impact they had on the history of economic thought.
Beginning in the 1870s, the Neoclassical School of Economics emerged. Borrowing the idea of marginal analysis from calculus, and applying it to the ethical theory of Utilitarianism, they revolutionized the way economics was discussed. Today, we discuss the various “Marginalists” of this school, and the impact they had on the history of economic thought.
58 min