marginal revolution in economics

E394987
intellectual movement paradigm shift in economics

The marginal revolution in economics was a late 19th-century shift that introduced marginal utility and subjective value as the foundation of modern microeconomic theory.

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All labels observed (3)

Label Occurrences
marginal revolution 2
marginal revolution in economics canonical 2
marginalist revolution 2

Statements (49)

Predicate Object
instanceOf intellectual movement ⓘ
paradigm shift in economics ⓘ
alsoKnownAs marginal revolution in economics ⓘ
surface form: marginalist revolution
associatedSchool Austrian School of economics ⓘ
Lausanne school of economics ⓘ
surface form: Lausanne School of economics

neoclassical economics ⓘ
characterizedBy focus on individual decision-making ⓘ
formalization of utility ⓘ
mathematical treatment of demand ⓘ
use of marginal conditions for optimization ⓘ
coreConcept diminishing marginal utility ⓘ
individual choice under scarcity ⓘ
marginal productivity ⓘ
subjective theory of value ⓘ
value determined at the margin ⓘ
endDate 1890 ⓘ
field economics ⓘ
followedBy neoclassical economics ⓘ
geographicOrigin Austria ⓘ
Switzerland ⓘ
United Kingdom ⓘ
historicalContext decline of classical political economy ⓘ
industrialization in Europe ⓘ
historicalDebate simultaneous discovery controversy ⓘ
impact established marginal analysis as standard tool in economics ⓘ
redefined theory of value in economics ⓘ
influenced capital theory ⓘ
general equilibrium theory ⓘ
modern microeconomics ⓘ
price theory ⓘ
utility theory ⓘ
welfare economics ⓘ
keyFigure Carl Menger ⓘ
Eugen von Böhm-Bawerk ⓘ
Francis Ysidro Edgeworth ⓘ
Friedrich von Wieser ⓘ
Leon Walras ⓘ
surface form: Léon Walras

Vilfredo Pareto ⓘ
William Stanley Jevons ⓘ
mainFocus marginal analysis ⓘ
marginal utility ⓘ
subjective value theory ⓘ
precededBy classical economics ⓘ
publication Carl Menger ⓘ
surface form: Carl Menger, Principles of Economics

Leon Walras ⓘ
surface form: Léon Walras, Elements of Pure Economics

William Stanley Jevons ⓘ
surface form: William Stanley Jevons, The Theory of Political Economy
rejectedConcept labor theory of value ⓘ
startDate 1870 ⓘ
timePeriod late 19th century ⓘ

Referenced by (6)

Full triples — surface form annotated when it differs from this entity's canonical label.

Carl Menger → partOf → marginal revolution in economics ⓘ
Friedrich von Wieser → partOf → marginal revolution in economics ⓘ
Principles of Economics → movement → marginal revolution in economics ⓘ
this entity surface form: marginal revolution
theory of marginal utility → historicalRoot → marginal revolution in economics ⓘ
this entity surface form: marginal revolution
marginal revolution in economics → alsoKnownAs → marginal revolution in economics ⓘ
this entity surface form: marginalist revolution
Der natürliche Wert → influencedBy → marginal revolution in economics ⓘ
this entity surface form: marginalist revolution