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
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: 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
Do you have negative results from your research you’d like to share?
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.