ABSTRACT

As noted in Chapter 1, the notion, but not the full practice, of economics imperialism emerged in the 1930s, once marginalism had been established as a core part of the discipline (discussed more fully in Section 2 below). Once accepted, though, on the basis of reservations and compromises over content, marginalist principles could be extended beyond the market as these preconditions were set aside and forgotten. Thus the passage from the old, Marshallian type of marginalism to general equilibrium both extended the core content of microeconomics within economics as a discipline, and the potential for its application to the non-economic and other disciplines.