The Theory of Political Economy
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ISBN10: 1983432156
ISBN13: 9781983432156
Publisher: Createspace
Published: Dec 31 2017
Pages: 114
Weight: 0.36
Height: 0.24 Width: 5.98 Depth: 9.02
Language: English
ISBN13: 9781983432156
Publisher: Createspace
Published: Dec 31 2017
Pages: 114
Weight: 0.36
Height: 0.24 Width: 5.98 Depth: 9.02
Language: English
Irving Fisher described Jevons' book A General Mathematical Theory of Political Economy (1862) as the start of the mathematical method in economics. It made the case that economics as a science concerned with quantities is necessarily mathematical. In so doing, it expounded upon the final (marginal) utility theory of value. Jevons' work, along with similar discoveries made by Carl Menger in Vienna (1871) and by Léon Walras in Switzerland (1874), marked the opening of a new period in the history of economic thought. Jevons' contribution to the marginal revolution in economics in the late 19th century established his reputation as a leading political economist and logician of the time.
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