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Marshall on Progress and People's Welfare

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  • Tamotsu Nishizawa

Abstract

The paper focuses on Marshall’s ideas of the economic and socio-ethical progress, of the development of man’s higher faculties, and of people’s welfare and improvement of their quality of life. The studies on economic and social progress with prospects for the elimination of human poverty and the higher development of human faculties, were ‘the high theme’ and the crucial ideas of his whole economics writings of Marshall. For him ‘the solution of economic problems was not an application of the hedonistic calculus, but a prior condition of the exercise of man’s higher faculties’. The paper stresses a nonutilitarian perspective. The first section examines the man’s economic conditions and human character, work and life, economic and ethical progress. Then the second section discusses about the ideas moralizing capitalism and citizenship, which is followed by the section on education and strength of the people; and supported by the discussions on the cumulative effects of people’s wages in the final section.

Suggested Citation

  • Tamotsu Nishizawa, 2012. "Marshall on Progress and People's Welfare," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 0(1), pages 21-38.
  • Handle: RePEc:fan:spespe:v:html10.3280/spe2012-001003
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    More about this item

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • N3 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy

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