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Marshall on welfare, or: the 'utilitarian' meets the 'evolver'

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  • Marco Dardi

Abstract

Consumer surplus and the notion of the social optimality of competitive equilibria are usually indicated as Marshall's main contributions to welfare economics. His willingness to develop the policy implications of these concepts, however, was half-hearted to say the least. This paper argues that such an attitude is better understood if Marshall's approach to welfare economics is set in the framework of a wider intellectual programme that, passing through various stages, lies behind his entire work. The core of the programme consisted of an attempt to reconcile a utilitarian agenda with an evolutionary view of the dynamic tendencies of industrial society.

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  • Marco Dardi, 2010. "Marshall on welfare, or: the 'utilitarian' meets the 'evolver'," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(3), pages 405-437.
    • Handle: RePEc:taf:eujhet:v:17:y:2010:i:3:p:405-437
    DOI: 10.1080/09672567.2010.492130
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    References listed on IDEAS

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    1. Marco E.L. Guidi, 2009. "Jeremy Bentham," Chapters, in: Jan Peil & Irene van Staveren (ed.), Handbook of Economics and Ethics, chapter 4, Edward Elgar Publishing.
    2. Peter Groenewegen, 1995. "A SOARING EAGLE: Alfred Marshall 1842–1924," Books, Edward Elgar Publishing, number 193.
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    Cited by:

    1. Carlo Cristiano, 2010. "Marshall at Cambridge," Chapters, in: Tiziano Raffaelli & Giacomo Becattini & Katia Caldari & Marco Dardi (ed.), The Impact of Alfred Marshall’s Ideas, chapter 3, Edward Elgar Publishing.

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