A transdisciplinary perspective on economic complexity. Marshall's problem revisited
“Marshall's problem” consists in finding a way to integrate physics and biology into economics in order to represent a complex economic world. It is widely believed that Alfred Marshall was the first to address the issue, but he failed to integrate the two methodological approaches into economics. In particular the prevailing view is that Marshall was unable to follow through on his declaration that biology is the “Mecca” of economics. This paper reconsiders “Marshall's problem” by focusing on the intellectual connections among Darwin, Babbage and Marshall: it explores the relationship between Marshall's view of complexity as a dialectical mixing of routine and variation and reconstructs the development of a powerful intellectual model that we call the “evolutionary machine”.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 80 (2011)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/locate/jebo|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Samuel Bowles & Herbert Gintis, 2000.
"Walrasian Economics in Retrospect,"
UMASS Amherst Economics Working Papers
2000-04, University of Massachusetts Amherst, Department of Economics.
- Babbage, Charles, 1832. "Economy of Machinery and Manufactures," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number babbage1832.
- Niman, Neil B., 1991. "Biological Analogies in Marshall's Work," Journal of the History of Economic Thought, Cambridge University Press, vol. 13(01), pages 19-36, June.
- Coase, Ronald H, 1975. "Marshall on Method," Journal of Law and Economics, University of Chicago Press, vol. 18(1), pages 25-31, April.
- Rosser, J. Jr., 1992. "The dialogue between the economic and the ecologic theories of evolution," Journal of Economic Behavior & Organization, Elsevier, vol. 17(2), pages 195-215, March.
- Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
- Foster, John, 1993. "Economics and the Self-Organisation Approach: Alfred Marshall Revisited," Economic Journal, Royal Economic Society, vol. 103(419), pages 975-991, July.
- J. Stanley Metcalfe, 2010. "Complexity and emergence in economics: the road from Smith to Hayek (via Marshall and Schumpeter)," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 18(2), pages 45-76.
- Rosser Jr., J. Barkley, 2010. "Is a transdisciplinary perspective on economic complexity possible?," Journal of Economic Behavior & Organization, Elsevier, vol. 75(1), pages 3-11, July.
- Marchionatti Roberto, 2002. "Dealing with complexity Marshall and Keynes on the nature of economic thinking," CESMEP Working Papers 200201, University of Turin.
- Niman, Neil B., 2008. "Charles Babbage'S Influence On The Development Of Alfred Marshall'S Theory Of The Firm," Journal of the History of Economic Thought, Cambridge University Press, vol. 30(04), pages 479-490, December.
- Marshall, Alfred, 1890.
"The Principles of Economics,"
History of Economic Thought Books,
McMaster University Archive for the History of Economic Thought, number marshall1890.
- Krugman, Paul, 1998. "Two Cheers for Formalism," Economic Journal, Royal Economic Society, vol. 108(451), pages 1829-1836, November.
- Marchionatti Roberto, 2002. "What don't economists know now that Marshall knew a century ago?," CESMEP Working Papers 200202, University of Turin.
- Raffaelli, Tiziano, 2007. "Marshall's Metaphors on Method," Journal of the History of Economic Thought, Cambridge University Press, vol. 29(02), pages 135-151, June.
- J. Stanley Metcalfe, 2007. "Alfred Marshall and the General Theory of Evolutionary Economics," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 15(1), pages 81-110.
- Joseph E. Stiglitz, 2000. "The Contributions of the Economics of Information to Twentieth Century Economics," The Quarterly Journal of Economics, Oxford University Press, vol. 115(4), pages 1441-1478.
- David Colander, 1995. "Marshallian General Equilibrium Analysis," Eastern Economic Journal, Eastern Economic Association, vol. 21(3), pages 281-293, Summer.
When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:80:y:2011:i:1:p:122-136. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.