|
The Principles of Economics is a leading economics textbook by Alfred Marshall.
Marshall began writing the treatise in 1881 and he spent much of the next decade at work on it. His plan for the work gradually extended to a two-volume compilation on the whole of economic thought; the first volume was published in 1890 to worldwide acclaim that established him as one of the leading economists of his time. It brought the ideas of supply and demand, of marginal utility and of the costs of production into a coherent whole, and became the dominant economic textbook in England for a long period.
Marshall was one of the founders of the "neoclassical" school in which economists studied both wealth and human behaviour to understand why we make the choices we do. First published in 1890, Principles of Economics stands as Marshall's most influential work. This abridged edition offers a general introduction to the study of economics, dealing mainly with normal conditions of industry, employment, and wages. He begins by isolating the primary relations of supply, demand, and price in regard to a particular commodity. Based on his study of science, history, and philosophy, Marshall argues that, while fragmentary statistical hypotheses are used as temporary aids to dynamic conceptions, the central idea of economics must be that of a living force and movement, and its main concern must be with human beings who are impelled, for better or worse, to change and progress.
The first introductory book gives the author’s overview of the field of economics. The recording is based and revised on the eighth edition, published in 1920. Following and subsequent six books have also been updated and are on this disc. What was put into print all those years ago still has a lot of relevance in today’s market.
|
