The Review of Austrian Economics

, Volume 24, Issue 3, pp 311–318

Rothbardian demand: A critique

Article

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 

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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

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

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