Published in 1890 after nearly ten years of research, this magisterial opus, intended to offer a kind of Grand Unified Theory of Economics for its time—a planned second volume never appeared—was immensely influential due to its innovative treatment of such concepts as elasticity of demand, consumer surplus, and marginal utility.
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Alfred Marshall (1842-1924) was a British economist known for helping to found the school of English neoclassical economics, building on the work of Adam Smith and David Ricardo with fresh mathematical rigor. His best-known work, Principles of Economics (1890), was the leading economic textbook in England for generations of students.
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