The Review of Austrian Economics

, Volume 24, Issue 3, pp 311–318 | Cite as

Rothbardian demand: A critique

  • Marek HudíkEmail author


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.


Demand Giffen behaviour Marginal utility Consumer theory 

JEL Classification

B53 D01 



I would like to thank Jeffrey Herbener, David Lipka, Joseph Salerno, Dan Šťastný and an anonymous referee for their valuable comments on earlier drafts of this paper.


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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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