New Ideas From Dead Economists, Chapter 7 (Essay Sample)
Writing Assignments. You will read Chapter 7 from New Ideas from Dead Economist.
1) What did you learn about economic concepts from this chapter?
2) How are these ideas are relevant to today’s economy?
Then your answer which should be 2 paragraphs or more.
P.S: You need to answer those 2 questions about chapter 7. Write answers to those questions with space between 2 paragraphs, so I can see where did you stop answering 1 question and where did you start with the second question. Thank you!
Marginalism is a theory of economics that explains the discrepancy in the value of services and goods with respect to their marginal or secondary utility. From this chapter, I have learned that Alfred Marshall was not the inventor of the concept of marginalism. In fact, Augustin Cournot from France and H. H. Gossen and J. H. von Thünen from Germany had started exploring marginal analysis years before Alfred Marshall. According to Alfred, economics is a cooperative calling and is an entirely different subject from history. Economists should act as guardians of reasoning and truth, and need not to discuss politics or society until or unless they are required to do so in order
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