Rothbardian Demand: A Critique

The Review of Austrian Economics, September 2011, Volume 24, Issue 3, pp 311-318

Mises Working Paper Series #0005/14

13 Pages Posted: 20 May 2014

See all articles by Marek Hudik

Marek Hudik

Xi'an Jiaotong University (XJTU) - International Business School Suzhou

Date Written: May 19, 2014

Abstract

This paper refutes Rothbard’s claim that the law of diminishing marginal utility implies a non-increasing demand curve. It is argued that the law under Rothbard’s interpretation is, in fact, irrelevant for demand theory. An example of increasing demand is provided.

Keywords: demand, Giffen behaviour, marginal utility, consumer theory

JEL Classification: B53, D01

Suggested Citation

Hudik, Marek, Rothbardian Demand: A Critique (May 19, 2014). The Review of Austrian Economics, September 2011, Volume 24, Issue 3, pp 311-318, Mises Working Paper Series #0005/14, Available at SSRN: https://ssrn.com/abstract=2438958

Marek Hudik (Contact Author)

Xi'an Jiaotong University (XJTU) - International Business School Suzhou ( email )

111 Ren’ai Road,
Suzhou Lake Higher Education Town,
Suzhou, Jiangsu 215123
China

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
212
Abstract Views
776
Rank
260,572
PlumX Metrics