Article

The Review of Austrian Economics

, Volume 24, Issue 3, pp 311-318

Rothbardian demand: A critique

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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

Demand Giffen behaviour Marginal utility Consumer theory

JEL Classification

B53 D01