The Theory of Normal Prices and Reconstruction of Economic Theory

Joan Robinson

Chapter 4 in Issues in Contemporary Macroeconomics and Distribution, 1985, pp 157-165 from Palgrave Macmillan

Abstract: Abstract I am one of the few survivors of the generation that learned economic theory before the Keynesian revolution. Alfred Marshall was the overmastering influence on teaching in the English-speaking world. There were many disputed points within the Marshallian canon, such as the meaning of the ‘representative firm’, but other schools — Walras, Pareto, the Austrians — were dismissed in footnotes. We used to say in Cambridge: ‘Everything is in Marshall’. I added later: ‘The trouble is that everything else is as well’.

Keywords: Industrial Economy; Free Play; Normal Prex; Wage Bill; Effective Demand (search for similar items in EconPapers)
Date: 1985
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DOI: 10.1007/978-1-349-06879-1_4

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