Task+3

‍The Marginalist School of economics, which originated in the late nineteenth century, has dominated the discipline from the middle twentieth century until nowadays.

1. Its beginning: intellectual origins and the marginalist revolution in economics. > a. Two main intellectual origins >> i. Jeremy Bentham’s Utilitarian Philosophy >> ii. The idea that the commodities’ value comes from their utility > b. The simultaneous methodological discovery of the theory of utility value

2. Its impact on the discipline of economics > a. A new psychological foundation for economics > b. A new and a easier way to bring mathematics into economics

3. Its dominance in the field of economics in the post-WW II era > a. The role of Paul Samuelson and his book > b. The neoclassical synthesis > c. The defeat of institutional economics in US.