Marshall's Principles Research Articles

A Dynamic View of Industrial Agglomeration

Abstract: This study first outlines the classic Marshallian and Weberian theories of industrial agglomeration, highlighting the difference between Weber's theory, which the process of emergence, based on predictable profit, from a state of nothingness, and Marshall's theory, which the process of continued self-reinforcement of existing Consequently, one cannot expect to understand the dynamism of industrial by viewing these two theories separately. This study integrates the two theories to identify a framework for viewing industrial dynamically. Specifically, this paper pays particular attention to gatekeeper-type companies, which capture the demand from markets outside the industrial and make use of networks within the industrial to meet that demand.Keywords: industrial agglomeration, industry, internal economies, external economies, gatekeeperIntroductionGenerally speaking, the existing theories on industrial fall into one of two branches: A. Marshall or A. Weber (Matsubara, 1999; Sumiya, 1971). The former, which could also be called small to medium enterprise theory, assumes the prior existence of industrial and examines mechanisms for the profit of agglomeration generated only after the has emerged. Fundamentally, this school asserts that external economies operate through agglomeration. The latter, which could also be called the location theory, examines why industrial emerges without assuming the prior existence of industrial agglomeration. Fundamentally, this school asserts that emerges in geographically advantageous locations. In short, the Marshall school focuses on the function of the industrial as a system, while the Weber school focuses on ex-ante rationality behind the emergence of the industrial system. Since there are major differences between the two schools in terms of their views on companies and their approach, they tend not to refer to each other. However, it is necessary to take a dynamic perspective that incorporates both emergence and function in order to consider policies on industrial agglomeration.This study discusses the possibility of integrating the Marshallian and Weberian schools, and advocates the necessity of focusing on the existence of gatekeeper-type companies, which capture the demand from markets outside the industrial and make use of networks within the industrial to meet that demand.Marshall's Localized Industry TheoryChapter 10 Industrial Organization, Continued. The Concentration of Specialized Industries in Particular Localities of Marshall's Principles of Economics discusses localized (Marshall, 1920). Directly before Chapter 10, Marshall divides the economies arising from an expansion in the scale of production into two classes: internal economies, generated by the expansion of individual businesses, and external economies, generated by the expansion of the general expansion of the whole industry. Marshall goes on to state that Chapter 10 will discuss industries because external economies are mainly seen in industries, which are the concentration of many small businesses of similar characteristics in particular localities.Marshall begins Chapter 10 by stating the causes for creating industries. For example, in one particular locality, industries have originated from family groups expanding into villages. In another locality, industries have come into existence because of natural conditions (such as soil and climate characteristics, and proximity of mines and quarries in the neighborhood, or easily accessible by land or water). Other reasons include the patronage of a court, or the systematic summonsing of artisans by rulers to build a town. …

マーシャル『原理』の静学

マーシャル『原理』の静学

マーシャル『原理』の動学

マーシャル『原理』の動学

Marshall's Principles and the Cambridge School

Marshall's Principles and the Cambridge School

The future of the working classes: a comparison between J.S. Mill and A. Marshall

Both J. S. Mill and A. Marshall had a lifelong interest in the living conditions of the working classes and theorized the possibility of a new age, characterized by a widespread mental and moral cultivation. This paper compares the precise arguments put forward by them in the period ranging from Mill's to Marshall's Principles, against the background of the evidence of social and human progress at their times. It is argued that, at different stages and with different specific arguments, their predictions relied on self-reinforcing mechanisms, in which a better life was the cause, no less than the effect, of progress. In order to make similarities and differences more transparent from a logical point of view, two simple mathematical formulations are proposed.

A Marshall-Walras Divide? A Critical Review of the Prevailing Viewpoints

The aim of this essay is to examine economists' views about the relationship between Marshallian and Walrasian theory. Are they complementary, as is usually believed, or do they constitute alternative research programs? I compare two viewpoints on this matter, the conciliatory and the antagonistic. After describing these, I present my own standpoint: I believe that there is a Marshall–Walras divide, but I have serious objections to the way in which the argument for this divide is usually made. In the last part of the paper, I examine the view held by several authors that an embryonic general equilibrium model is to be found in Marshall's Principles.

Alfred Marshall's use of Adam Smith: Coming to grips with an aspect of Alfred Marshall's citation practice

This paper outlines Marshall's use of Smith's writings in his own published work as an aspect of Marshall's citation practice and to demonstrate Marshall's great admiration for Smith as economist. Section 2 reviews the Smith citations in Marshall's Principles of Economics', section 3 those in Marshall's other published work. The conclusion notes that this citation practice matches Marshall's great admiration Smith the economist, because of Smith's great ability to blend fact and theory, for drawing measured conclusions and, above all, for constructing useful arguments in a field of imprecise knowledge.

Population and Policy in Marshall's Economics

The Malthusian population doctrine formed an integral part of both theory and policy in classical economics: “[T]he Malthusian theory lent support to the subsistence theory of wages and prepared the way for the Ricardian preoccupation with the land-using bias of economic progress; by explaining poverty in terms of a simple race between population and the means of subsistence, it provided the touchstone for all classical thinking about economic policy” (Blaug 1997, p. 65). Among historians of economic thought there is probably little in this statement with which to disagree. A variety of interpretations, however, have been given to the subsequent career of the population doctrine, including its place in the economics of Alfred Marshall. Economists after John Stuart Mill, Joseph Schumpeter argued, found the population doctrine to be of little theoretical use to economics: many leading economists of the neoclassical school, including Alfred Marshall, “paid their respects to it, even though they no longer based upon it any part of their analytic structures” (1954, p. 890). Mark Blaug, by contrast, suggests that the analysis of population in Marshall's Principles of Economics indicates an “orthodox classical attitude to population problems” (1997, p. 385). Yet another perspective is offered by John Whitaker who remarks that early in his career Marshall resolved to transform the “old political economy into a new science of economics, open to the progressive intellectual and social movements of the day.” His intent was to leave behind the sterile controversies and pessimistic pronouncements of the old political economy, including those associated with the population doctrine (1996, vol. 1, pp. xvii, xx).

Marshall’s Dilemma: Equilibrium versus Evolution

(2003). Marshall’s Dilemma: Equilibrium versus Evolution. Journal of Economic Issues: Vol. 37, No. 4, pp. 1139-1160.

Agglomeration economies and productivity differences in US cities

Plant‐level data from the Longitudinal Research Database of the US Bureau of the Census are employed to estimate the impact of agglomeration economies on industry productivity across US metropolitan areas. This analysis seeks to remedy three shortcomings of previous empirical studies of agglomeration economies: reliance on aggregate spatial or sectoral data; lack of attention to spatial dependence in data; and representation of agglomeration economies with vague proxies such as city‐size. We show how a number of establishment‐, industry‐, and city‐specific factors influence labor productivity across US cities, and we pay particular attention to separating the influence of different kinds of agglomeration economies on firm efficiency. Here we follow Marshall's Principles of Economics in examining the spatial concentration of input–output linkages, the character of local labor pools and embodied technological spillovers.

Toward a Theory of "Quasi" Non-Tatonnement: Marshall and beyond

consequence. To come closer to the concerns which are the agenda here, the BarroGrossman sharp distinction neglects the problem of differences in skill, quality of information sets, etc. in the immediate market period in a competitive regime - a country-town corn market - in chapter 2 of book V of Marshall's Principles. It is a problem that surfaces in the short run as well in Arrow's Toward a Theory of Price Adjustment (Arrow, 1959). An examination of this problem and of the related one posed by Frank Hahn's mutual-consistencies view of equilibrium (Hahn, 1973) has the consequence of casting doubt upon much of the received wisdom concerning a unique, determinate market equilibrium -thereby making, so it seems to us, convergence and the conventional non-tatonnement process irrelevancies. All three treatments - that is, that of Marshall, of Arrow and of Hahn suggest the outlines of a theory of quasi non-tatonnement (QNT), or trading activity which is not necessarily equilibrating.

Natural Images in Economic Thought: Markets Read in Tooth and Claw

List of contributors Acknowledgements Part I. The Natural and the Social: 1. Doing what comes naturally: four metanarratives on what metaphors are for Philip Mirowski 2. So what's an economic metaphor? Arjo Klamer and Thomas C. Leonard Part II. Physical Metaphors and Mathematical Formalization: 3. Newton and the social sciences, with special reference to economics, or, the case of the missing paradigm I. Bernard Cohen 4. From virtual velocities to economic action: the very slow arrivals of linear programming and locational equilibrium Ivor Grattan-Guinness 5. Qualitative dynamics in economics and fluid mechanics: a comparison of recent applications Randall Bausor 6. Rigor and practicality: rival ideals of quantification in nineteenth-century economics Theodore M. Porter Part III. Uneasy boundaries between man and machine: 7. Economic man, economic machine: images of circulation in the Victorian money market Timothy L. Alborn 8. The moment of Richard Jennings: the production of Jevons's marginalist economic agent Michael V. White 9. Economics and evolution: Alfred James Lotka and the economy of nature Sharon E. Kingsland Part IV. Organic Metaphors and their stimuli: 10. Fire, motion, and productivity: the proto-energetics of nature and economy in Francois Quesnay Paul P. Christensen 11. Organism as a metaphor in German economic thought Michael Hutter 12. The greyhound and the mastiff: Darwinian themes in Mill and Marshall Margaret Schabas 13. Organization and the division of labor: biological metaphors at work in Alfred Marshall's Principles of Economics, Camille Limoges and Claude Menard 14. The role of biological analogies in the theory of the firm Neil B. Niman 15. Does evolutionary theory give comfort of inspiration to economics? Alexander Rosenberg 16. Hayek, evolution, and spontaneous order Geoffrey M. Hodgson Part V. Negotiating over Nature: 17. The realms of the Natural Philip Mirowski 18. The place of economics in the hierarchy of the sciences: Section F from Whewell to Edgeworth James P. Henderson 19. The kinds of order in society James Bernard Murphy 20. Feminist accounting theory as a critique of what's 'natural' in economics David Chioni Moore Index.

The Law of Diminishing Marginal Utility in Alfred Marshall's Principles of Economics

The goal of this paper is to clarify the content of the Marshallian Law of Diminishing Marginal Utility. The paper is divided into seven sections. In the first one, I present the eight formulations of the Law that I record in the Principles and the foundation that Marshall provides for it. In the second and third sections, I present a couple of objections raised by Marshall himself against the universal validity of the Law; in my opinion, his answer to them is not sound. I contrast my interpretation with those of the other authors. In the fourth section, The Law of Utility is distinguised from the Law of Demand. In section five, l present the two meanings in which Marshall employs the term ‘utility’: as pleasure, and as a formal notion. In section six, I attempt to build an explanatory framework for the encountered difficulties. Finally, the seventh section is devoted to conclusions.

Thurgood Marshall—A Justice for All People

Since Thurgood Marshall's resignation from the Supreme Court, the media has been filled with commentary about his splendid record on civil rights. record of this extraordinary human being, the only black ever to have served on the High Court, was certainly outstanding. However, the virtually exclusive focus on Marshall's civil rights positions implies that, as a Supreme Court Justice, he cared only about defending the rights of minorities. Marshall certainly was passionate about protecting minorities; what was wonderful about his passion is that it extended to working people, generally. If the Thurgood Marshalls of the nation dominated the political scene, the white majority (as well as people of color) would be living much better lives and they would be living longer! In 1980, the Court's majority misinterpretation of the Occupational Safety and Health Act undermined the ability of the Department of Labor to protect workers from carcinogenic and other toxic substances. Court rejected the Department of Labor's requirement that industry set exposure limits at the lowest technologically feasible level (as long as it does not impair viability). In his long, detailed, dissenting opinion, Marshall admonished, The unfortunate consequence is that the federal government's effort to protect American workers from cancer and other crippling diseases may be substantially impaired. Since the Court's decision, the abysmal record of American industry on protecting the health of working people helps one appreciate the incredible importance of Marshall's position. Although the High Court continually has moved rightward on labor as well as on other issues, Marshall continued to buck the tide. political context has changed, but Marshall's principles have not. right of employers to replace strikers permanently, sanctioned by the Supreme Court in 1938, is well known. Just two years ago, the Court ruled that business was not required to displace unionized employees who worked during the strike in order to reinstate striking employees with greater seniority. Brennan and Marshall justifiably complained that permitting business to discriminate on the basis of union activity is inherently destructive of the right to strike as guaranteed by both the Railway Labor Act and the National Labor Relations Act.

Building Anew on Marshall's Principles. Vol. 1 of Social Economics: An Alternative Theory

Building Anew on Marshall's Principles. Vol. 1 of Social Economics: An Alternative Theory

Social Economics: An Alternative Theory. Volume 1: Building Anew on Marshall's Principles

Social Economics: An Alternative Theory. Volume 1: Building Anew on Marshall's Principles

Social Economics: An Alternative Theory: Volume I, Building Anew on Marshall's Principles.

Social Economics: An Alternative Theory: Volume I, Building Anew on Marshall's Principles.

Centenary Essays on Alfred Marshall

This collection of twelve original essays commissioned by Britain's Royal Economic Society commemorates the 1990 centennial of the first publication of Alfred Marshall's Principles of Economics, one of the truly seminal works in the history of the subject. Marshall, who lived from 1842 to 1924, was the founder of the Cambridge school of economics and the teacher of John Maynard Keynes. Each of the twelve essays in this volume focuses on some aspect or aspects of Marshall's work, life, or legacy. His magnum opus, the Principles, receives considerable attention, but the discussion is not narrowly restricted to that work - which was in any case only a portion of a larger project, never completed. John Whitaker's essay sets out the detailed history of Marshall's failure to complete the projected second volume of the Principles, and describes the thorny path leading to the publication of Industry and Trade in 1919 and Money Credit and Commerce in 1923.

The Ethicists' View of Marshall'sPrinciples

Economists who study Alfred Marshall's Principles of Economics may not appreciate fully significance of his pious asides and prim moralisings (Shove, 1942, p. 316). Whitaker explained Some Neglected Aspects of Alfred Marshall's Economic and Social Thought, including Marshall's systematic views on human character and motivation as related to economic, social, and political life (Whitaker, 1977, p. 161). Yet, economists will not comprehend fully revolutionizing impact of Marshall's book if they confine their attention to views of economists, both his contemporaries and ours. Marshall's Principles not only changed technical and theoretical aspects of economics, but also its standing in eyes of Britain's ethicists. Marshall's intellectual development, his passage from ethics into economics, reveals source of his pious asides and prim moralisings. read Kant in 1868 and confessed that Kant was the only man I ever worshipped (Keynes, 1925, pp. 10-11). Hegel's Philosophy of History greatly influenced too during 1870's (Keynes, 1925, p. 11). While British idealism also drew on Kantian-Hegelian philosophical tradition, Marshall never departed explicitly from Utilitarian ideas which dominated generation of economists which preceded (Keynes, 1925, p. 9). Marshall's interest in ethics led him to join Cambridge Ethical Society at its founding in 1888, and he remained a member until its demise in 1897. Since he is listed as a member of Society's first and last

The Idea of ‘Character’ in Victorian Political Thought

When in the summer of 1902 Helen Bosanquet published a book called The Strength of the People she sent a copy to Alfred Marshall. On the face of it, this might seem a rather unpromising thing to have done. Mrs Bosanquet, an active exponent of the Charity Organisation Society's ‘casework’ approach to social problems, had frequently expressed her dissatisfaction with what she regarded as the misleading abstractions of orthodox economics, and in her book she had even ventured a direct criticism of a point in Marshall's Principles. Marshall, then Professor of Political Economy at Cambridge and at the peak of his reputation as the most authoritative exponent of neo-classical economics in Britain, was, to say the least, sensitive to criticism, and he had, moreover, publicly taken issue with the C.O.S. on several previous occasions. But perhaps Mrs Bosanquet knew what she was about after all. In her book she had taken her text from the early nineteenth-century Evangelical Thomas Chalmers on the way in which character determines circumstances rather than vice versa, and, as the historian of the C.O.S. justly remarks, her book ‘is a long sermon on the importance of character in making one family rich and another poor’. Although Marshall can hardly have welcomed the general strictures on economics, he was able to reassure Mrs Bosanquet that ‘in the main’ he agreed with her: ‘I have always held’, he wrote to her, ‘that poverty and pain, disease and death are evils of greatly less importance than they appear, except in so far as they lead to weakness of life and character’.