ABSTRACT

FIFTEEN years or so ago I gave a series of lectures at the London School of Economics in which I incidentally paid my respects to the great shade of Marshall. Somebody in the audience thereupon wrote me a letter expressing a feeling, couched in the form of a question, to the effect that Marshall’s message would pass away much as Mill’s

message had, or for that matter that of Adam Smith. I will put what I have to say in the form of an answer to that question.