The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Robinson Crusoe

  • M. V. White
Reference work entry


Written by Daniel Defoe, Robinson Crusoe was first published in 1719–20. By the end of the 19th century there were many references made to a Crusoe economy to illustrate the principles of supply and demand economic theory. Crusoe thus became a representative rational economic individual, allocating his available resources to obtain maximum satisfaction in the present or future.


Capital Commodity exchange Consumer surplus Individualism Marginalist economics Producer surplus Rational behaviour Robinson Crusoe Supply and demand 

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • M. V. White
    • 1
  1. 1.