Journal of Institutional Economics



Fragment

‘The present position of economics’ by Alfred Marshall


GEOFFREY M. HODGSON 

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Alfred Marshall was elected to the Chair of Political Economy at the University of Cambridge in December 1884. He gave his inaugural lecture on ‘The present position of economics’ on 24 February 1885 (Groenewegen, 1995: ch. 10). An abridged version of this lecture is presented below.