ABSTRACT
In Chapter 3, ‘William Stanley Jevons: the new margins of economics and the economy’, attention is focused on the 1870s transformation of political economy into neoclassical economics which replaces the pessimism of Malthus and labour theory of value refined by J.S. Mill and David Ricardo with mathematical rigour and marginalist approaches to price and exchange determination. This moment presents a paradox for the connection between theory and empirics, given that just as the politics are being stripped from economics, a capitalist state and economy are being consolidated through a series of economic crises and concerns that are impossible to ignore both broadly and for Jevons personally.
