The Victorian World and the Underworld of Economics Summary and Analysis

After the publication of The Communist Manifesto, many of the Marxist concepts were proven. Businesses grew bigger and bigger and there was more and more instability within the system, such as depressions and inflations. However, Marx had predicted the increasing misery of the proletariat. This meant that the living conditions of the workers would deteriorate to the point where they would rebel, and this did not happen. There were other non-Marxian views that appeared at this time. One was Francis Ysidro Edgeworth, who was a graduate of Oxford who liked mathematics. Edgeworth believed that every person tried to maximize pleasure or was a pleasure machine and he tried to present this view in terms of mathematics. Each pleasure machine or human would try to obtain the most...