Principles of Economics

by Alfred Marshall

Book Overview

British economist Alfred Marshall (1842-1924) was one of the founders of the "neoclassical" school in which economists studied both wealth and human behavior to understand why we make the choices we do. First published in 1890, Principles of Economics stands as Marshall's most influential work. This abridged edition offers a general introduction to the study of economics, dealing mainly with normal conditions of industry, employment, and wages. It...

• Format: Paperback
• Language: English
• ISBN: 1573921408
• ISBN13: 9781573921404
• Release Date: May 1997
• Publisher: Prometheus Books
• Length: 320 Pages
• Weight: 0.90 lbs.
• Dimensions: 1.1" x 5.5" x 8.5"

Customer Reviews

Very good book!

In the present book A. Marshall explains economic concepts with magistral semplicity and clarity. A must for the library of each economist.

Signalman Publishing version is best for the Kindle

There are two versions of Alfred Marshall's "Principles of Economics" available for the Kindle and we looked at both of them. The version from Signalman Publishing is, by far, the best version because it is formatted specially for the Kindle with a hyper-linked Table of Contents which allows for easy navigation throughout a very long text. In addition, all the footnotes are hyper-linked within the text so you don't have to click past literally hundreds of pages to go to the note -- you simply click on the hyper-link. The version from Evergreen Review does not have any of these features which makes it cumbersome (at best) to read on a Kindle. Also, Signalman includes all the drawings and graphs from Professor Marshall which is not included in the other version. Also, one other note since some reviewers mention that some versions of "Principles" do not contain the full text: the version from Signalman contains all six books plus all appendices including the mathematical appendix.

The Titan of the Neo-Classics

The British economist Alfred Marshall is one of the greatest political economists of all times and this book represents a deep effort to address in an orderly way the many social and economical issues that were at stake at the turn of the 19th to the 20th century. This way of addressing disturbing social questions is an Alfred Marshall trademark. In this sense, his motto could well be the oft quoted " Natura non facit saltum" , which is Latin for "Nature does not evolves in leaps and bounds", and all things are going to be all right in the future but it will take some time untill they consolidate themselves into a coherent whole, where everyone in this world will have an opportunity to fully develop his natural propensities for love, companionship and free will. His view is helped by the many mathematical formulae he uses to illustrate his points of views, using differential calculus, due to his mathematical background. But the reader has not to worry if he/she is not proficient with this type of mathematical tools, because they are used only as a side-line to the text, which is dense and full of logical thinking in itself. Marshall, despite his mathematical background, didn't judge Mathematics as a fundamental tool to Politcal Economy. Alfred Marshall is the most influential representant of the minimalist movement called Neo-Classics Economics (Stanley Jevons, Vilfredo Pareto , Karl Menger) and in this capacity is the most notorius proponent of what today is taught and learned in all Economics Schools over the world as Microeconomics, or the economics of particular competitive or non-competitive markets. In some way, he is both the inheritor of the Utilitarian theories of Jeremy Bentham, as of the economics doctrines of David Ricardo and Adam Smith. Also, one of the interesting facets of Marshall is that he had both John Neville Keynes (the father) and John Maynard Keynes (the son) as one of his pupils in Economics. His knowledge of History and Mathematics is astounding and if he has not reached the status of Keynes or Adam Smith, this is more due to the constraints of the Victorian era in which he wrote this book, and the influences he received, than to any lack of deep understanding of economics realities, which were indeed recognized by John Maynard Keynes himself as fundamental to the latter development he gave to the so-called Dismall Science.

Both reviewers are correct!!!

The other two reviews in this page are both correct but they review different books. Both reviews, however, appear under both items. I would, therefore, keep the ratings of each reviewer for each edition. The Great Minds Series is indeed abridged and omits crucial material from Marshall's Principles. Marshall put all the mathematical apparatus in the Mathematical Appendix which is omitted in the Great Minds Series. The Porcupine edition is the unabridged edition of Marshall's 1920 8th edition of the Principles. The first edition was in 1890.There is also a variorum (9th edition) of the Principles edited by C. W. Guillebaud, 2 vols (1961), which is out of print, but it appears as volumes 4 & 5 in Peter Groenewegen's Collected Works of Alfred Marshall,Thoemmes, 1997. There is also a great free on-line edition in the Library of Economics and Liberty.The book is by all means a classic. It consolidated neoclassical economics and it was one of the most influential books on economics ever written. Indeed, the very change of the name of economic science from "political economy" to "economics", although not suggested by Marshall, is due to the influence of the Principles.To understand Alfred Marshall (1842-1924), I would suggest to read John Maynard Keynes's "Alfred Marshall" essay in Essays in Biography (1933) or Peter Groenewegen's magisterial biography "A Soaring Eagle: Alfred Marshall 1842-1924", Elgar,1995.

The Porcupine edition is NOT ABRIDGED!

The other review on this page is incorrect! It's a cut-and-paste job from a review of the Great Minds edition, which is abridged. The porcupine edition is NOT ABRIDGED. If you are reading Marshall's principles for the first time, or if you want a copy for reference, this is the edition you want to buy. I don't know who is responsible for the cutting-and-pasting, but this error should be corrected right away.