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Alfred Marshall
Alfred Marshall (1842–1924) was a British economist and one of the most influential figures in the development of economics in the late 19th century. He was a key figure in the academic and intellectual circles of Cambridge and London, and his ideas survived well beyond his lifetime. He is primarily remembered for his book Principles of Economics, first published in 1890, which is still considered a landmark textbook for its synthesis of theory, empirical methods, and mathematics. Marshall was also one of the earliest proponents of neoclassical economics, believing that economic phenomena could be studied scientifically and employing inductive and deductive methods. He is further recognized for his many contributions to sociology, including his championing of public education. Marshall is also credited with providing a theoretical explanation as to why competition among businesses tends to lead to lower prices and greater efficiency. He was also a major influence on many of the 20th century’s major economists, including John Maynard Keynes.
Source: OpenAi