Utility, the Paradox of Value and ‘all that’ and Classical Economics

  • Marian Bowley


Since I wrote Nassau Senior and Classical Economics more than thirty years ago, I have altered in various ways my views both about the development of utility theory in the first half of the nineteenth century, and about the views and influence of Adam Smith. This is because I have learnt a little more about Adam Smith’s predecessors and contemporaries and about the classical period itself. In this essay I have tried to set out what now seems to me to be a more correct interpretation of the history of utility theory from Adam Smith to Dupuit in certain respects.


Political Economy Market Price Marginal Utility Utility Theory Classical Period 
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Copyright information

© Marian Bowley 1973

Authors and Affiliations

  • Marian Bowley
    • 1
  1. 1.Professor of Political EconomyUniversity of LondonUK

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