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Vol. 55, No. 4, pp. 358-378 (2004)

“The Economics Tripos and the Marshallian School in the Making―With Special Reference to His Industrial Economics―”
Tamotsu Nishizawa (The Institute of Economic Research, Hitotsubashi University)

My paper focuses on the making of Economics Tripos in Cambridge and what the Marshallian School was really like, in special reference to his industrial economics, or the 'science of business', compared with Ashley's Faculty of Commerce at Birmingham, and his 'business economics'. First I shall discuss Marshall's "Plea" for the creation of Cambridge School, and how Marshall tried to liberate Economics 'from the incubus of moral sciences', stressing how Marshall though much of 'Economics, mainly Realistic', or Applied Economics. Then I shall discuss Ashley's 'Business Economics'. Thirdly I shall investigate how Marshall's Industry and Trade was composed, discussing Walter Layton and his scheme for a 'Professorship of industrial and commercial economics'.