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CEE Biographies

William Stanley Jevons

  William Jevons was one of three men to simultaneously advance the so-called marginal revolution. Working in complete independence of one another—Jevons in Manchester, England; leon walras in Lausanne, Switzerland; and carl menger in Vienna—each scholar developed the theory of marginal utility to understand and explain consumer behavior. The theory held that the utility (value) […]

W. Arthur Lewis

In 1979, British citizen W. Arthur Lewis was awarded the Nobel Prize, along with theodore schultz, for “pioneering research into economic development … with particular consideration of the problems of developing countries.” One of Lewis’s major contributions to economics is a 1954 article that discusses his concept of a “dual economy” in a poor country. […]

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