Proto-marginalist approach in Russia: Yuli Zhukovsky's interpretation of Ricardo

Anton Galeev

Journal of the New Economic Association, 2022, vol. 55, issue 3, 177-191

Abstract: The paper focuses on the interpretation of David Ricardo's theory of value and distribution suggested by Yuli Zhukovsky, a 19th century Russian economist. In his interpretation, Zhukovsky introduced a two-factor production model characterized by decreasing marginal productivity as well as supply-and-demand price mechanism. Zhukovsky's interpretation of Ricardo was an attempt to deliver a more rigorous approach to the agrarian issue - the hot topic that marked the public debates in Russia after the abolition of serfdom in 1861. Zhukovsky, an early critic of Marx, outlined a different path in the reception of the classical approach in Russia that preceded later developments in mathematical economics. The paper introduces Zhukovsky's interpretation as a case of proto-marginalist analysis. It also demonstrates that Zhukovsky treated the mathematical apparatus as an instrument for the practical application of political economy to the issue of economic development.

Keywords: Russian economic thought; proto-marginalism; David Ricardo; Yuli Zhukovsky (search for similar items in EconPapers)
JEL-codes: B12 B16 B31 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2022:i:55:p:177-191

DOI: 10.31737/2221-2264-2022-55-3-9

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