The Limitations of the Marginal Utility (Illustrated)

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Thorstein Veblen is a great American economist along with Irving Fisher and John Bates Clark in many economic thoughts for combining a Darwinian evolutionary perspective with his new institutionalist approach to economic analysis. He developed a 20th-century evolutionary economics based upon Darwinian principles and new ideas emerging from anthropology, sociology, and psychology. Veblen’s important works includes The Theory of the Leisure Class and The Theory of Business Enterprise.

Veblen’s teacher John Bates Clark was one of the pioneers of the marginalist revolution.  Thorstein Veblen presented his view and thoughts about Clark’s work of Marginal Utility in this essay.

This book is for the reads who are interested in Veblen’s view about Marginal Utility that was pioneered by Clark.