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Schools of Thought
RECENTLY UPDATED TOPICS UNDER SCHOOLS OF THOUGHT
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VALUE THEORY
For Ricardo the Theory of Value was a means of studying the distribution of total output between wages, rent and profit, each considered as a whole. This is a big question. Marshall turned the meaning of value into a little question: why does an egg cost more than a cup of tea? It may be a small question but it is a very difficult and complicated one. It takes a lot of time and a lot of algebra to work out the theory of it. So it kept all Marshall's pupils preoccupied for fifty years. [18: Note]
Source: online.bcc.ctc.edu (built 619 days ago)
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TOPICS IN SCHOOLS OF THOUGHT
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