We might as reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by utility or cost of production.

Economists

Born in London 1842

Born in London 1842, Marshall founded neoclassical economics. Principles of Economics (1890) unified supply-demand analysis with marginal utility, creating the framework underpinning microeconomics.

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Source: Principles of EconomicsVerified

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