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jan 1, 1870 - Marginal Revolution

Description:

- Introduced by Carl Menger, William Stanley Jevons and Léon Walras
- Based on the idea of "marginal decision-making"
- Comsumers make decisions based on utility
- Demand is emphasized over the labour theory of value

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ByAnastasia Larionova
21 Sep 2020
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Date:

jan 1, 1870
Now
~ 155 years ago
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