Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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DEMAND 57 The reader can judge for himself whether the alleged fecundity of the marginal method is borne out by its application to demand. We have strictly observed the limitations which render analysis of social facts so difficult. We have taken the experiences of a person in respect of his wanting or demanding as an indivisible whole, as we are told that we must by the most competent psychologists. And we have made no suspicious assumptions about the basis of these experiences ; for indeed we have made no assumptions at all as regards their basis, but have on the contrary accepted as our data the bare facts of wanting and demanding as they are directly revealed. But the door has not thereupon been shut against our scientific aspirations. By the marginal method, the simple device in this case of watching the differences made to the totality of a person’s experience—by differ entiating experience, as it is expressed in the first chapter—we have reached, under the guidance of Dr. Marshall in particular, general isations, which are adequately explanatory of demand for economic purposes and illumina ting (particularly the doctrine of consumer’s surplus) from the point of view of a philosophy of life, and which, as will transpire later, in conjunction with other generalisations having

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