marginal revolution

Roger E. Backhouse
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

The marginal revolution saw the introduction of the idea of marginal utility into economics in the early 1870s by Jevons, Walras and Menger. This change in economic theory was a slower process than the word ‘revolution’ suggests, and, to understand the changes associated with it, it is necessary to explore the scientific, social and political context in which they occurred.
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How to cite this article

Backhouse, Roger E. "marginal revolution." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 17 September 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_M000392> doi:10.1057/9780230226203.1026

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