Alfred Marshall

  • John Maynard Keynes


Alfred Marshall was born at Clapham on 26 July 1842, the son of William Marshall, a cashier in the Bank of England, by his marriage with Rebecca Oliver.1 The Marshalls were a clerical family of the West, sprung from William Marshall, incumbent of Saltash, Cornwall, at the end of the seventeenth century. Alfred was the great-great-grandson of the Reverend William Marshall,2 the half-legendary herculean parson of Devonshire, who, by twisting horse-shoes with his hands, frightened local blacksmiths into fearing that they blew their bellows for the devil.1 His great-grandfather was the Reverend John Marshall, Headmaster of Exeter Grammar School, who married Mary Hawtrey, daughter of the Reverend Charles Hawtrey, Sub-Dean and Canon of Exeter, and aunt of the Provost of Eton.2


Political Economy Foreign Trade Economic Journal British Association Royal Commission 
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  1. 3.
    In repeating the substance of this Note to the Indian Currency Committee (1899) he refers in generous terms to the then recent elaboration of the idea in Professor Irving Fisher’s Appreciation and Interest (1896).Google Scholar
  2. See also for some analogous ideas Marshall’s first Economics of Industry (1879), Book 111, chap. 1, §§ 5, 6.Google Scholar
  3. 2.
    This was the first book in England to be published at a net price, which gives it an important place in the history of the publishing trade. (See Sir F. Macmillan’s The Net Book Agreement, 1899, pp. 14–16.) It has been a remarkable example of sustained circulation. In the first thirty years of its life 27,000 copies were sold, being throughout at an almost steady rate of 1000 copies a year, excluding the war. During the next ten years 20,000 copies were sold, i.e. at the rate of 2000 copies a year. The total number printed up to the present time (end of 1932) is 57,000.Google Scholar

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© The Royal Economic Society 2010

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  • John Maynard Keynes

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