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The Mecca of Alfred Marshall

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  • Hodgson, Geoffrey M

Abstract

Alfred Marshall is often quoted for his statement that "the Mecca of the economist lies in economic biology" and he is seen as a father of evolutionary economics. However, the limited character of his evolutionary theory, and its close resemblance to t he ideas of Herbert Spencer, are sometimes misunderstood or ignored. Th e argument in this paper is that Marshall saw the value of the biologi cal metaphor for economics but in part the Spencerian influence thwarted the development of an adequate evolutionary analysis. Copyright 1993 by Royal Economic Society.

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  • Hodgson, Geoffrey M, 1993. "The Mecca of Alfred Marshall," Economic Journal, Royal Economic Society, vol. 103(417), pages 406-415, March.
    • Handle: RePEc:ecj:econjl:v:103:y:1993:i:417:p:406-15
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    Citations

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    Cited by:

    1. Rahmeyer Fritz, 2013. "Schumpeter, Marshall, and Neo-Schumpeterian Evolutionary Economics: A Critical Stocktaking," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(1), pages 39-64, February.
    2. Luna, Ivette & de Souza Luz, Manuel Ramón & Hiratuka, Celio & Fracalanza, Paulo Sérgio, 2015. "Variação da produtividade do trabalho numa perspectiva evolucionária: aplicação da equação de Price para análise da indústria de transformação no Brasil entre 2007 e 2011 [Changes in labour product," MPRA Paper 78198, University Library of Munich, Germany.
    3. Michael Joffe, 2017. "Causal theories, models and evidence in economics—some reflections from the natural sciences," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1280983-128, January.
    4. Charis Vlados & Dimos Chatzinikolaou, 2020. "Methodological Redirections for an Evolutionary Approach of the External Business Environment," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 9(2), pages 1-25, March.
    5. Kevin Maréchal & Hélène Aubaret-Joachain & Jean-Paul Ledant, 2008. "The influence of Economics on agricultural systems: an evolutionary and ecological perspective," Working Papers CEB 08-028.RS, ULB -- Universite Libre de Bruxelles.
    6. Stanley J. Metcalfe, 2010. "The Open, Evolving Economy: Alfred Marshall on Knowledge, Management and Innovation," Chapters, in: Jean-Luc Gaffard & Evens Salies (ed.), Innovation, Economic Growth and the Firm, chapter 1, Edward Elgar Publishing.
    7. Khalil, Elias L., 1999. "Two kinds of order: Thoughts on the theory of the firm," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(2), pages 157-173, July.
    8. Fritz Rahmeyer, 2010. "A Neo-Darwinian Foundation of Evolutionary Economics. With an Application to the Theory of the Firm," Discussion Paper Series 309, Universitaet Augsburg, Institute for Economics.
    9. Trushin, Eshref & Ugur, Mehmet, 2018. "Ecosystem complexity, firm learning and survival: UK evidence on intra-industry age and size diversity as exit hazards," Greenwich Papers in Political Economy 19095, University of Greenwich, Greenwich Political Economy Research Centre.

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