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Re: Alfred Marshall

To Ric Holt:
     Defending Alfred Marshall by no means places
you "out of the nonlinear loop" as David Colander's
presidential address to the Eastern Economic Assoc.
should have indicated.   Marshall was a complex and
subtle economist who among other things first
identified the possibility of multiple equilibria.
He also espoused an evolutionary approach to economics.
His analysis of increasing returns leads to path
dependence and other important and very current concepts.
     That his more mechanical version of basic supply
and demand has been turned into boring textbook grist
in no way undoes the interesting nature of Marshall's
broader analysis.
Barkley Rosser
James Madison University
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