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The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.

The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.


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Author introduction

Alfred Marshall, FBA (26 July 1842 – 13 July 1924) was one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics.[1] Although Marshall took economics to a more mathematically rigorous level, he did not want mathematics to overshadow economics and thus make economics irrelevant to the layman.



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