marginalism

(redirected from Marginalists)
Also found in: Encyclopedia.

marginalism

(ˈmɑːdʒɪnəˌlɪzəm)
n
(Economics) the economic theory that the value to the final user is the true value of the product
Mentioned in ?
References in periodicals archive ?
The subjectivist revolution of the late nineteenth century had been left incomplete (Lachmann, 1978b), with the early marginalists paying attention only to the first realm of subjectivism while ignoring the second Moreover, this neglect of subjective expectations had continued as marginalist economics developed during the twentieth century (2)
Pasinetti made clear that the Marginalists turned their attention to the nonreproducible goods of the scarce type in the Ricardian sense.
In economics, the instrumental conception of work had been forged by the marginalists, the very economists that removed the relations between people from the domain of economic analysis.
Charles Thomas, one of the founders of the Association of Black Psychologists (ABPsi) and the first editor of the JBP argued that the oppression of people of African descent created social roles that were designed to sustain and maintain oppressive conditions, such as: (1) hybrid or bad niggers; (2) conformists or good Negroes; and (3) marginalists or white middle class Negroes (Thomas, 1974; Karenga, 1992, Jamison, 2008).
As social science, the labor theory of value (LTV) has embarrassed both Marxists and marginalists alike.
Action already reproached to marginalists and economists who tend to use mathematics as a universal converter of information.
Thus, the usage of this language, now an essential part of modern microeconomics, traces back ultimately to a now virtually forgotten German mathematician and economist whose influence worked, ironically enough, through Edgeworth, one of the most cardinal and utilitarian of all of the second generation marginalists, through Rosenstein-Rodan, a man not generally remembered today as an economic theorist, and possibly through Weinberger, who is today almost forgotten to history
Besides their theoretical works Marginalists authors show a keen interest in the practical issues of their times.
Marginalists believe in one-step-at-a-time efforts such as administering deworming drugs to schoolchildren or offering merit scholarships to high school girls in Kenya.
Chapter 4 shows how the marginalists supply a mathematical version of political economy that "tries to remove the question of morality altogether from economic life," while Veblen depicts "the morality of capitalist social relations" as "submerged in the inexorable flow of evolution" (158).
5) Joseph Stiglitz may be seen as inspired by the pioneer neo-classical marginalists in his concern to legitimate the role of state intervention within the context of a neo-classical policy paradigm (2002 chap 1 and 3 passim).
In some sense, the Prologue to the Tale of Beryn--or at least the Pardoner himself--proposes the kind of libidinal economy later theorized by the nineteenth-century "marginalist" economists critiqued by Goux: rather than calculating value according to the labor taken in production, the marginalists calculated value according to the consumer's subjective desire, and the Prologue here performs a similar operation.