The following points highlight the four main contributions of F.Y. Edgeworth to economics. The contributions are: 1. Mathematical Economic Analysis 2. Static and Dynamic Analysis 3. Indifference and Contract Curves 4. Three Dimensional Utility. 1. Mathematical Economic Analysis: Edgeworth never attempted a complete treatise on economics, as he was not keenly interested in this subject as Wicksteed, Sidgewick and Marshall. [...]
In this article we will discuss about the contributions and critical appraisal of of P.H. Wicksteed. Contributions of P.H. Wicksteed: 1. Labour Theory of Value: By applying Jevon's analysis, Wicksteed criticized the Marxian Theory of value. He considered the labour theory of value was wrong. 2. Principle of Marginal Utility: In his book "The Alphabet of Economic Science" Wicksteed introduced [...]
The following points highlight the top fourteen contributions of Alfred Marshall to Economics. Some of the contributions are: 1. Definition and Laws of Economics 2. Marshall Method 3. Wants and Their Satisfaction 4. Marshallian Utility and Demand 5. Consumer's Surplus 6. Elasticity of Demand 7. Supply and Cost 8. Factors of Production and Others. 1. Definition and Laws of Economics: [...]