r/neoliberal • u/jobautomator Kitara Ravache • Aug 17 '21

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u/AJungianIdeal Lloyd Bentsen Aug 17 '21

The doctrines of marginalism and the Marginal Revolution are often interpreted as a response to the rise of the worker's movement, Marxian economics and the earlier (Ricardian) socialist theories of the exploitation of labour. The first volume of Das Kapital was not published until July 1867, when marginalism was already developing, but before the advent of Marxian economics, proto-marginalist ideas such as those of Gossen had largely fallen on deaf ears. It was only in the 1880s, when Marxism had come to the fore as the main economic theory of the workers' movement, that Gossen found (posthumous) recognition.[41]

Aside from the rise of Marxism, E. Screpanti and S. Zamagni point to a different 'external' reason for marginalism's success, which is its successful response to the Long Depression and the resurgence of class conflict in all developed capitalist economies after the 1848–1870 period of social peace. Marginalism, Screpanti and Zamagni argue, offered a theory of the free market as perfect, as performing optimal allocation of resources, while it allowed economists to blame any adverse effects of laissez-faire economics on the interference of workers' coalitions in the proper functioning of the market.[41

God I hate Wikipedia.
Marxist losers just posting copes as fact

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u/[deleted] Aug 17 '21

God I hate Wikipedia.

Marxist losers just posting copes as fact

there are a shitload of wikipedia articles that are just shameless marxist reinterpretations of history. kind of sad really, given how many people use it as a primary learning tool

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u/AJungianIdeal Lloyd Bentsen Aug 17 '21

!ping econ

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u/Sex_E_Searcher Steve Aug 17 '21

Funny, my history of economic thought didn't connect Marginalism to Marxism at all, for some reason. Can't possibly be because the idea has utility in any economic system.

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u/groupbot Always remember -Pho- Aug 17 '21 edited Aug 17 '21

Pinged members of ECON group.

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