2020 (17), №1

Conceptual Framework Formation of Classical Political Economy as Prerequisite for Marginalist Revolution



For citation: 

Dyatel, E. P. (2020). Conceptual Framework Formation of Classical Political Economy as Prerequisite for Marginalist Revolution. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 17 (1), 1-16


The aim of this paper is to establish the relationship and continuity of the marginalist revolution. It is the starting point of modern economic thinking, with the categorical core and logical structure of classical political economy. The scientific worldview is formed by processing the totality of ideas about the economic life of society into a system of concepts. They reflect certain aspects of reality and are interconnected with each other. With the explanation of the multi-dimensional picture of the economic life of a society copes successfully Aristotelian logic, which is complemented with the Hegelian dialectic. The marginalist revolution is associated with the transition to a new disciplinary matrix, a new way of explaining reality. It takes a long way to go from the concept of commodity wealth in the form of a stock of consumer and exchange values accumulated by society to its understanding as a combination of assets, which use create “society surplus”. There is the problem of finding a common way to calculate the results of economic activities in the production, distribution (exchange) and consumption. On the role of the general economic substance claims «service», which use is not an intrinsic property of things, but it is a relationship between the person assessing and evaluate things. The basis of the marginal approach to the calculation of the utility (value) is a set of methodological principles that create the conditions for building a system of general equilibrium equations and other mathematical economic models. Modeling is based on functional relationships displayed supply and demand curves, isoquants and indifference, etc. The boundary conditions are given consumer preferences and other abstractions that need further consideration beyond the scope of this research.

Evgeniy Petrovich Dyatel — Doctor of Economics, Professor of Political Economy Department, Ural State University of Economics (Ekaterinburg, Russian Federation; e-mail: dуatel1942@mail.ru)