Thinkers like William Stanley Jevons, Carl Menger, and Léon Walras argued that the value of a good is not determined by the labor required to make it, but by its subjective utility to the consumer.
: Coverage of Jevons, Menger, and Walras leads into the influential work of Alfred Marshall and his framework for partial equilibrium.
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The French school of thought that viewed agriculture as the sole source of a nation's wealth, introducing the concept of Laissez-faire (let it be). 2. The Classical School
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Detailed profiles of Nobel Laureates and recent Indian economic trends.