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Proto-marginalist approach in Russia: Yuli Zhukovsky's interpretation of Ricardo

Author

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  • Galeev, A.

    (Centre for the History and Methodology of Economic Science HSE University, Moscow, Russia)

Abstract

The paper focuses on the interpretation of David Ricardo's theory of value and distribution suggested by Yuli Zhukovsky, a 19th century Russian economist. In his interpretation, Zhukovsky introduced a two-factor production model characterized by decreasing marginal productivity as well as supply-and-demand price mechanism. Zhukovsky's interpretation of Ricardo was an attempt to deliver a more rigorous approach to the agrarian issue - the hot topic that marked the public debates in Russia after the abolition of serfdom in 1861. Zhukovsky, an early critic of Marx, outlined a different path in the reception of the classical approach in Russia that preceded later developments in mathematical economics. The paper introduces Zhukovsky's interpretation as a case of proto-marginalist analysis. It also demonstrates that Zhukovsky treated the mathematical apparatus as an instrument for the practical application of political economy to the issue of economic development.

Suggested Citation

  • Galeev, A., 2022. "Proto-marginalist approach in Russia: Yuli Zhukovsky's interpretation of Ricardo," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 177-191.
    • Handle: RePEc:nea:journl:y:2022:i:55:p:177-191
    DOI: 10.31737/2221-2264-2022-55-3-9
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    References listed on IDEAS

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    More about this item

    Keywords

    Russian economic thought; proto-marginalism; David Ricardo; Yuli Zhukovsky;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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