Principles of Economics¶
Marshall, A. (1890). Principles of Economics.
Cited by¶
15 citations across 14 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Deadweight Loss
- The consumer- and producer-surplus framework, which underpins these calculations, traces to Marshall (1890)
This sourceIntroduces consumer surplus and producer surplus ("Marshallian surplus") within partial-equilibrium supply-and-demand analysis — the welfare-accounting framework underlying the deadweight-loss triangle (the gap between the surplus realized and the surplus available at competitive equilibrium).
- The construct was developed in Marshallian partial-equilibrium analysis,
- The consumer- and producer-surplus framework, which underpins these calculations, traces to Marshall (1890)
- Demand
- The prime is emphatically not "people want things"; it is the price–quantity curve and its derived properties: a downward slope (lower cost draws more sought), elasticity (the responsiveness of quantity to price), substitution (composition shifts at the margin as relative costs change), and a conditioning structure of income, expectations, complements, and substitutes that locates and moves the whole curve.
This sourceFoundational treatment introducing the demand curve, elasticity of demand, and consumer surplus as the area under the demand curve above price.
- The prime is emphatically not "people want things"; it is the price–quantity curve and its derived properties: a downward slope (lower cost draws more sought), elasticity (the responsiveness of quantity to price), substitution (composition shifts at the margin as relative costs change), and a conditioning structure of income, expectations, complements, and substitutes that locates and moves the whole curve.
- Diminishing Incremental Gains
- Marshall (1890) gave this curve-navigation reasoning its canonical formulation in Principles of Economics, treating diminishing marginal utility as the substrate-independent shape that governs rational allocation along any concave benefit function.
This sourceCanonical formulation of diminishing marginal utility ('the marginal utility of a thing diminishes with every increase in the amount already held'), the substrate-independent concave shape governing rational allocation.
- Marshall (1890) gave this curve-navigation reasoning its canonical formulation in Principles of Economics, treating diminishing marginal utility as the substrate-independent shape that governs rational allocation along any concave benefit function.
- Diminishing Returns (Law of)
- as central to his theory of rent, and formalized in neoclassical production theory via Marshall (1890)
This sourceGeneralizes diminishing returns from land to all factors of production (a producer who over-uses any one factor gets diminishing returns because the others cannot back it up) and derives the upward-sloping short-run firm/industry supply curve from short-run diminishing returns — supports both the Core-Idea and Structural-Signature claims attributed to Marshall.
- as central to his theory of rent, and formalized in neoclassical production theory via Marshall (1890)
- Diseconomies of Scale
- The pattern was first given rigorous economic shape in the long-run average-cost analyses that succeeded Marshall's (1890) treatment of internal and external economies, where the U-shaped average-cost curve makes the unfavorable upturn an explicit object rather than an afterthought.
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization); establishes the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- The pattern was first given rigorous economic shape in the long-run average-cost analyses that succeeded Marshall's (1890) treatment of internal and external economies, where the U-shaped average-cost curve makes the unfavorable upturn an explicit object rather than an afterthought.
- Economies of Scale
- The formal economic study of economies of scale traces to Alfred Marshall's Principles of Economics (1890),
This sourceMacmillan, London. Distinguishes internal economies (dependent on a single firm's resources, organization, and management) from external economies (dependent on the general development of an industry/region), and treats the long-run average-cost curve and its eventual upturn as explicit objects of analysis; supports the inline 'Formal/abstract' claim attributing the internal-vs-external distinction to Marshall.
- The formal economic study of economies of scale traces to Alfred Marshall's Principles of Economics (1890),
- Externality
- The construct originated in Alfred Marshall's Principles of Economics (1890)
This sourceMacmillan. Introduces external economies and external diseconomies — effects on a firm's efficiency that depend on the development of the whole industry rather than the firm's own output — the origin point of the externality construct. SUPPORTS the 'construct originated in Marshall' claim (145). [Annotation reworded: prior text described internal/external economies of SCALE and long-run cost curves, which mis-stated the cited basis for the externality claim.]
- The construct originated in Alfred Marshall's Principles of Economics (1890)
- Increasing Returns
- … or inverted as the dominant winner extracts rents and slows innovation, and the four-role question has to be re-asked at each level rather than read off the firm-level gradient alone, a Marshallian (1890) point that external economies and internal economies operate at different scales and need separate accounting.
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization), establishing the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- … or inverted as the dominant winner extracts rents and slows innovation, and the four-role question has to be re-asked at each level rather than read off the firm-level gradient alone, a Marshallian (1890) point that external economies and internal economies operate at different scales and need separate accounting.
- Marginal Analysis
- (2) Alfred Marshall's Principles of Economics (1890)
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization), establishing the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- (2) Alfred Marshall's Principles of Economics (1890)
- Marginal Utility
- Classical results on consumer surplus (Marshall, 1890)
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization), establishing the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- Classical results on consumer surplus (Marshall, 1890)
- Price Elasticity
- The construct was introduced by Alfred Marshall (1890) in his Principles of Economics
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization), establishing the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- The construct was introduced by Alfred Marshall (1890) in his Principles of Economics
- Price Mechanism
- Modern formalization rests on Léon Walras's 1874 general-equilibrium framework, Alfred Marshall's 1890 supply-and-demand synthesis
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization), establishing the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- Modern formalization rests on Léon Walras's 1874 general-equilibrium framework, Alfred Marshall's 1890 supply-and-demand synthesis
- Substitutability
- Substitutability is the structural property that one entity or component can replace another without causing functional degradation or with only controllable loss of capability, an idea that Marshall (1890) formalized as the "principle of substitution" governing producer and consumer choices among functionally equivalent agents.
This sourceMacmillan. Foundational treatment distinguishing internal and external economies of scale and the favorable below-optimum regime (fixed-cost spreading, deepening specialization), establishing the lineage in which the long-run average-cost curve and its eventual upturn become explicit objects of analysis.
- Substitutability is the structural property that one entity or component can replace another without causing functional degradation or with only controllable loss of capability, an idea that Marshall (1890) formalized as the "principle of substitution" governing producer and consumer choices among functionally equivalent agents.
- Trade-offs
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- https://archive.org/details/principlesofecon00marsuoft ×1
- https://www.econlib.org/library/Marshall/marP.html ×1
- https://www.gutenberg.org/ebooks/55280 ×1
- https://www.gutenberg.org/ebooks/61004 ×1
- https://www.gutenberg.org/ebooks/61246 ×1
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