Author: Alfred Marshall

Publisher:

Published: 2010-06-01

Total Pages: 493

ISBN-13: 9788126914050

"Principles of Economics, first published in 1890, went through eight editions and is considered the most important treatise of 19th century and beyond. It gave some landmark concepts like consumer surplus, producer surplus, price elasticity of demand, and the idea of three periods, viz. market period, short period and long period. The concept of National Dividend given in the Principles is not a mere academic toy, but a practical instrument of great power designed for service in the concrete solution of social problems. Marshall's theoretic discussion follows the lines of the mathematical treatment of Cournot and others, more particularly in his discussion of the doctrines of value, cost, exchange, and distribution. He has used diagrams and formulae for purposes of illustration and for greater precision of statement." -- Book jacket.