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