As one of the principal founders of Neo-classical Economics, Alfred Marshall laid an important groundwork for many subsequent economic ideas in his most famous book, “the Principles of Economics”, which pioneered the popular supply and demand graphical representation. He also improved the mathematical rigor of economics, and thus, transformed the once fragmented economic theories into a coherent whole. Some of his students too became leading figures in economics, including John Maynard Keynes.
As one of the principal founders of Neo-classical Economics, Alfred Marshall laid an important groundwork for many subsequent economic ideas in his most famous book, “the Principles of Economics”, which pioneered the popular supply and demand graphical representation. He also improved the mathematical rigor of economics, and thus, transformed the once fragmented economic theories into a coherent whole. Some of his students too became leading figures in economics, including John Maynard Keynes.