The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Goods and Commodities

  • Murray Milgate
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1031

Abstract

Towards the end of the 1950s, Harry Johnson produced the following theorem on value theory:

Keywords

Characteristics Commodities Demand theory Exchange value Goods and commodities Jevons, W. S. Johnson, H. G. Lancaster, K. Marginal revolution Marshall, A. Marx, K. H. Menger, C. Mill, J. S. Produced and scarce commodities Ricardo, D. Robbins, L. C. Scarcity Separable utility functions Smith, A. Subjective theory of value Water–diamonds paradox 

JEL Classifications

A1 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Murray Milgate
    • 1
  1. 1.