Wesley Clair Mitchell 335 
John R. Commons 339 
Commons’ economic ideas 
John A. Hobson 345 
Gunnar Myrdal 350 
John Kenneth Galbraith 354 
Countervailing power The Affluent Society 
State 
Contemporary Heterodoxv and the New 
Summary 363 
The New Industrial 
Suggested Readings 
46 - 
1 O 
THE METHODOLOGICAL REVOLUTION SINCE 
MARSHALL 365 
Methodology and the Process of Fconomic Research 368 
T'he Changing Methodology of Economics 370 
Mathematical economics Paul Samuelson and mathematical 
economics The significance of mathematical economics Changing 
methodology — statistics and econometrics Wassily Leontief and 
input-output models Macroeconometric models 
Summary 384 
Suggested Readings 333 
11 MICROECONOMIC THEORY SINCE MARSHALL 387 
Theoretical Problems Emerge: 1890-1930 390 
The Theory of Monopolistic Competition 394 
Product differentiation and selling costs Interaction between firms 
The impact of the theory of monopolistic competition 
Welfare Economics 402 
The older welfare economics Pigon The new welfare economics 
Bergson Arrow Compensating payments Second best 
A Summary of Welfare Economics 415 
[he Economic Theory of Socialism 416