The Review of Austrian Economics

, Volume 24, Issue 3, pp 311–318

Rothbardian demand: A critique

Article

DOI: 10.1007/s11138-011-0147-3

Cite this article as:
Hudík, M. Rev Austrian Econ (2011) 24: 311. doi:10.1007/s11138-011-0147-3

Abstract

This paper refutes Rothbard’s claim that the law of diminishing marginal utility implies a non-increasing demand curve. It is argued that the law under Rothbard’s interpretation is, in fact, irrelevant for demand theory. An example of increasing demand is provided.

Keywords

DemandGiffen behaviourMarginal utilityConsumer theory

JEL Classification

B53D01

Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  1. 1.University of Economics, PraguePrague 3Czech Republic