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Demand And Exchange In Economic Analysis

Author

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  • John Creedy

Abstract

Demand and Exchange in Economic Analysis provides a rare combination of detailed analysis of a central area of economics with the history of economic thought. The first part of the book examines major attempts to treat mathematically the partial equilibrium concept of demand conceived as a schedule. The second part, after generalizing Cournot’s model of trade in a single good, traces the general equilibrium analysis of exchange. This adds to the concept of a demand curve the fundamental interpretation of the rate of exchange, or price ratio, in terms of the amount of one good offered in return for a unit of another good. The similarity in the treatments of Mill, Whewell, Marshall and Walras is revealed along with the emphasis on multiple equilibria. Edgeworth’s grand synthesis and extension of Jevons’s approach to exchange is then discussed in detail. The book will be of interest to a wide range of economists interested in placing modern theory in historical perspective.

Suggested Citation

  • John Creedy, 1992. "Demand And Exchange In Economic Analysis," Books, Edward Elgar Publishing, number 110.
    • Handle: RePEc:elg:eebook:110
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    File URL: http://www.e-elgar.com/shop/isbn/9781852785307
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    Citations

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    Cited by:

    1. Thomas M. Humphrey, 1996. "The early history of the box diagram," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 37-75.
    2. Peter Newman, 1999. "Book Reviews," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 6(4), pages 625-627.
    3. Laurence S. Moss, 2010. "The Seligman‐Edgeworth Debate About the Analysis of Tax Incidence: The Advent of Mathematical Economics, 1892–1910," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(1), pages 524-562, January.
    4. Robert William Fogel & Enid M. Fogel & Mark Guglielmo & Nathaniel Grotte, 2013. "Acknowledgments, References, Index," NBER Chapters, in: Political Arithmetic: Simon Kuznets and the Empirical Tradition in Economics, pages 119-148, National Bureau of Economic Research, Inc.
    5. John Creedy & Penny Mok, 2019. "Labour supply elasticities in New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 53(2), pages 125-143, May.
    6. John Creedy & Penny Mok, 2019. "Labour supply elasticities in New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 53(2), pages 125-143, May.

    More about this item

    Keywords

    Development Studies; Economics and Finance;

    JEL classification:

    • B0 - Schools of Economic Thought and Methodology - - General

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