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named after William Stanley Jevons, though referring to a shift in economic thought to which many contributed; switch from a focus to class-based analysis to using individual consumers as the basis

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jevonian revolution



The Jevonian revolution definitively ended the hold of "who gets what," class-based analysis in orthodox economics, and instead consecrated the individual "consumer" as the unit of analysis.

—p.35 Capitalist Political Economy: Smith to Marx to Keynes and Beyond (17) by Geoff Mann
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9 years, 2 months ago