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Wages and Capital: An Examination of the Wages Fund Doctrine

Wages and Capital: An Examination of the Wages Fund Doctrine

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Описание
An American follower of Alfred Marshall, Frank W. Taussig's prime position at Harvard and his famous 1911 textbook and his control of the Quarterly Journal of Economics helped spread the doctrines of Cambridge Neoclassicism in the United States. Taussigwas an opponent of the idea of a "Marginalist Revolution," stressing instead the congruity of Classical and Neoclassical economics. He was nonetheless sympathetic to some Austrian principles - notably Bohm-Bawerk's theory of capital (of which his 1896 book is a demonstration), but he was otherwise generally opposed to Continental marginalism - as well as American Institutionalism. Most of Taussig's contributions to economics have been on international trade, particularly on the issue of tariffs.

Taussig held his powerful Harvard pulpit until 1935, when that chair was handed over to his more colorful successor, Joseph Schumpeter.