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Who Is Keynes’ Teacher Alfred Marshall?

by Financial Economy

The views that form the basis of today’s economic policies have been put forward by some important economists in history. One of these important economists is Alfred Marshall. Alfred Marshall is Keynes’ teacher, whose books are still taught as textbooks. Keynes’ teacher, Alfred Marshall, the founder of neoclassical economics, also founded the Cambridge School. The answer of ” Who Is Keynes’ Teacher Alfred Marshall?” is in rest of article. You can browse here for information about Milton Friedman.

Who Is Keynes’ Teacher Alfred Marshall?

Alfred Marshall lived from July 26, 1842 to July 13, 1924. Marshall, who was born in Bermondsey (London), died in Cambridge. Marshall is the most influential and important economist of his era. Alfred Marshall published his book Principles of Economics in 1890 and this work was read as a textbook for many years.

Alfred Marshall states that economics is a science that examines the daily needs of people. Here Marshall defined daily needs as all activities that can be measured by economic actions and have a price. Alfred Marshall made use of geometry in his economic analysis. The introduction of various definitions and tools such as marginal utility curves, total cost curves, marginal revenues in economics into the economics literature took place thanks to Marshall. At the same time, Marshall revealed the importance and determinacy of the time factor in the supply-demand balance.

Marshall published his first book in the economic field, The Economics Of Industry, in 1879. This book is regarded as the first systematic presentation of neoclassical economic theory. The Principles of Economics is a work that is mainly based on the basic concepts of the Marginalist School and also using the elements of classical economics in accordance with this point of view. Alfred Marshall, a lecturer or administrator at various universities, was also a member of the Royal Study Commission.

For details: https://en.wikipedia.org/wiki/Alfred_Marshall

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