Alfred Marshall

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Alfred Marshall

Alfred Marshall 1842-1924, English economist. At Cambridge, where he taught from 1885 to 1908, he exerted great influence on the development of economic thought of the time; one of his students was John Maynard Keynes . He systematized the classical economic theories and made new analyses in the same manner, thus laying the foundation of the neoclassical school of economics. He was concerned with theories of costs, value, and distribution and developed a concept of marginal utility. His Principles of Economics (1890) was for years the standard work and is still widely read. Among his other works are Industry and Trade (1919) and Money, Credit, and Commerce (1923).

Bibliography: See A. C. Pigou, ed., Memorials of Alfred Marshall (1925, repr. 1966). What I Remember (1947), by M. P. Marshall, his wife, has some biographical material on him. See studies by H. J. Davenport (1935, repr. 1965) and C. Kerr (1969).

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Marshall, Alfred

A Dictionary of British History | 2004 | | Â© A Dictionary of British History 2004, originally published by Oxford University Press 2004. (Hide copyright information) Copyright

Marshall, Alfred (1842–1924). Born in Bermondsey (London), and educated at St John's College, Cambridge, Marshall took the mathematics tripos (1862–5). By 1868 he was college lecturer in moral sciences at St John's College, with particular responsibility for teaching political economy. His reputation as the greatest British economist of his time was founded upon his magnum opus, Principles of Economics (1890).

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