INTERMEDIATE

Neoclassical Economics

A dominant branch of economics which began during the “marginalist revolution.” Neoclassical economists used marginal analysis to study markets and non-Austrian neoclassical economists put special emphasis on market equilibrium prices. The models of the latter group assume that individuals attempt to maximize personal benefit at the margin. Early neoclassical economists include William Stanley Jevons, Léon Walras, Knutt Wicksell, Alfred Marshall, Carl Menger, and Thorstein Veblen. 

Related Publications

Related Freeman Articles

ARTICLE

Knut Wicksell: A Sesquicentennial Appreciation

Wicksell's Ideas Have as Much Interest Today as When He First Penned Them

DECEMBER 01, 2001 by RICHARD EBELING

IT JUST AIN'T SO

Markets Aren't Efficient?

Kinsley Is Right to Challenge the Realism of Mainstream Economics

DECEMBER 01, 2000 by ROBERT P. MURPHY

ARTICLE

Israel Kirzner on Supply and Demand

Must We Assume Perfect Competition and Perfect Knowledge?

JULY 01, 2000 by JAMES C. W. AHIAKPOR

ARTICLE

Mises, Hayek, and the Market Process: An Introduction

How Are Market-Based Economies Cultivated and Maintained?

JANUARY 01, 1997 by DAVID PRYCHITKO, NEVENKA CUCKOVIC

ONLINE EVENTS

FEE offers live online events for people new to the economic, ethical, and legal principles of a free society.

CURRENT ISSUE

October 2014

Heavily-armed police and their supporters will tell you they need all those armored trucks and heavy guns. It's a dangerous job, not least because Americans have so many guns. But the numbers just don't support these claims: Policing is safer than ever--and it's safer than a lot of common jobs by comparison. Daniel Bier has the analysis. Plus, Iain Murray and Wendy McElroy look at how the Feds are recruiting more and more Americans to do their policework for them.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

img E-mail Subscription

VIEW PRIVACY POLICY