ECO429H1

Economic Thought after 1870

Economic analysis between 1870 and 1960, from the foundations of microeconomics by the Marginal Utility theorists of the 1870s (Jevons, Menger, and Walras), Alfred Marshall in the 1890s, and the capital theorists Bohm-Bawerk and Fisher in the early 1900s, to the Keynesian revolution in macroeconomics in the 1930s and Friedman's counter-revolution in the 1950s.