ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Marshall s Ultra-Short Period Market

Marshall's 'Ultra-Short Period' Market IN the course of his review of my "Epochs of Economic Theory" (EPW, May 2) Bhabatosh Datta has raised a point which, though apparently trivial, is of some importance from the pedagogic point of view. I refer to his objection to Marshall's use of 'corn' as example in his analysis of what John Hicks has taught us to call the 'ultrashort period' market, a market where the stock of the commodity to be bought and sold is assumed to be absolutely fixed, the period being too short for production to take place.

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