Economics Marshall

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Principles of Economics, by Alfred Marshall

Natura non facit saltum

Front Matter


Book One: Preliminary Survey


The Substance of Economics

Economic Generalizations or Laws

The Order and Aims of Economic Studies

Book Two: Some Fundamental Notions



Production, Consumption, Labour & Necessaries

Income & Capital

Book Three: On Wants and Their Satisfaction


Wants in Relation to Activities

Gradations of Consumers' Demand

The Elasticity of Wants

Choice Between Different Uses of the Same Thing & Immediate and Deferred Uses

Value and Utility

Book Four: The Agents of Production: Land, Labour, Capital, and Organisation


The Fertility of Land

The Fertility of Land, Continued: The Tendency to Diminishing Return

The Growth of Population

The Health and Strength of the Population

Industrial Training

The Growth of Wealth

Industrial Organization

Industrial Organization, Continued: The Division of Labour & The Influence of Machinery

Industrial Organization, Continued: The Concentration of Specialized Industries in Particular Localities

Industrial Organization, Continued: Production on a Large Scale

Industrial Organization, Continued: Business Management

Conclusion: Correlation of the Tendencies to Increasing and to Diminishing Return

Book Five: General Relations of Demand, Supply, and Value

Introductory: On Markets

Temporary Equilibrium of Demand and Supply

Equilibrium of Normal Demand and Supply

The Investment and Distribution of Resources

Equilibrium of Normal Demand and Supply, Continued: With Reference to Long and Short Periods

Joint and Composite Demand & Joint and Composite Supply

Prime and Total Cost in Relation to Joint Products; Cost of Marketing; Insurance Against Risk & Cost of Reproduction

Marginal Costs in Relation To Values: General Principles

Marginal Costs in Relation To Values: General Principles, Continued

Marginal Costs in Relation To Agricultural Values

Marginal Costs in Relation To Urban Values

Equilibrium of Normal Demand and Supply, Continued: With Reference to the Law of Increasing Return

Theory of Changes of Normal Demand and Supply in Relation to the Doctrine of Maximum Satisfaction

The Theory of Monopolies

Summary of the General Theory of Equilibrium of Demand and Supply

Book Six: The Distribution of National Income

Preliminary Survey of Distribution

Preliminary Survey of Distribution, Continued

Earnings of Labour

Earnings of Labour, Continued

Earnings of Labour, Continued

Interest of Capital

Profits of Capital and Business Power

Profits of Capital and Business Power, Continued

Rent of Land

Land Tenure

General View of Distribution

General Influences of Economic Progress

Progress in Relation To Standards of Life


The Growth of Free Industry and Enterprise

The Growth of Economic Science

The Scope and Method of Economics

Uses of Abstract Reasoning in Economics

Definitions of Capital


The Incidence of Local Rates, With Some Suggestions As To Policy

Limitations of the Use of Statical Assumptions in Regard To Increasing Return

Ricardo's Theory of Value

The Doctrine of the Wages-Fund

Certain Kinds of Surplus

Ricardo's Doctrine As To Taxes and Improvements in Agriculture