Principles of Economics

1. Front Matter

   Pages i-xxviii

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2. Preliminary Survey

   1. Introduction

      • Alfred Marshall

      Pages 1-11

   2. The Substance of Economics

      • Alfred Marshall

      Pages 12-23

   3. Economic Generalizations or Laws

      • Alfred Marshall

      Pages 24-31

   4. The Order and Aims of Economic Studies

      • Alfred Marshall

      Pages 32-40

3. Some Fundamental Notions

   1. Introductory

      • Alfred Marshall

      Pages 41-44

   2. Wealth

      • Alfred Marshall

      Pages 45-52

   3. Production. Consumption. Labour. Necessaries

      • Alfred Marshall

      Pages 53-59

   4. Income. Capital

      • Alfred Marshall

      Pages 60-69

4. On Wants and Their Satisfaction

   1. Introductory

      • Alfred Marshall

      Pages 70-72

   2. Wants in Relation to Activities

      • Alfred Marshall

      Pages 73-77

   3. Gradations of Consumers’ Demand

      • Alfred Marshall

      Pages 78-85

   4. The Elasticity of Wants

      • Alfred Marshall

      Pages 86-97

   5. Choice between Different Uses of the Same Thing. Immediate and Deferred Uses

      • Alfred Marshall

      Pages 98-102

   6. Value and Utility

      • Alfred Marshall

      Pages 103-114

5. The Agents of Production Land, Labour, Capital and Organization

   1. Introductory

      • Alfred Marshall

      Pages 115-119

   2. The Fertility of Land

      • Alfred Marshall

      Pages 120-124

   3. The Fertility of Land, Continued. The Tendency to Diminishing Return

      • Alfred Marshall

      Pages 125-143

   4. The Growth of Population

      • Alfred Marshall

      Pages 144-160

   5. The Health and Strength of the Population

      • Alfred Marshall

      Pages 161-169

Alfred Marshall, Principles of Economics (1890) – Founder of Modern (Neo-classical) Economics. His book Principles of Economics was the dominant textbook in economics for a long time and it is considered to be his seminal work.

• Principles of Economics
• Political Economy
• Alfred Marshall
• agents
• consumer
• economics
• equilibrium
• growth
• industrial organization
• production

"It is impossible to understand economics in the twentieth century without knowing about Marshall's Principles. The simplicity of his presentation conceals complexities that were not apparent to later generations who picked up on the mathematics whilst ignoring many of the evolutionary ideas that fascinate modern scholars."

Roger E. Backhouse, Professor of the History and Philosophy of Economics, University of Birmingham, UK

"Alfred Marshall's Principles of Economics is an outstanding contribution, one of the foundations of neoclassical economics, and shaped the thought of economists from John Maynard Keynes to Milton Friedman. Every modern economist should make its acquaintaince and should look in admiration at that seminal diagram in which Marshall drew a supply curve intersecting a demand curve. Peter Groenewegen, Marshall's biographer and the greatest living Marshall scholar, has written a new introduction for this edition, drawing on a lifetime of insightful scholarship."

Robert W. Dimand, Professor of Economics, Brock University, Canada

Alfred Marshall (1842–1924) is widely regarded as the doyen of modern economics and the founder of the Neoclassical School of Economics; he is best known for revolutionising the teaching of economics. In 1865 Alfred Marshall was elected to a fellowship at St John's College, Cambridge, UK, he became a lecturer in moral sciences in 1868 and in 1885 he was awarded Professorship in Political Economy at Cambridge where he remained until his retirement in 1908. Marshall's magnus opus Principles of Economics was first published in 1890 to worldwide acclaim and it cemented his reputation as one of the leading economists of his time.