Narrate And Review The Development Of The Theory Of Equilibrium Price

The price is the result of commodity production and exchange. But when it appeared, vice verse, it turns to command the actions of the producers, and determine the fate of the purchasers and bargainors. It becomes an invisible hand to dominate everything in the commodity world. Then, what is the price? And who is in control of it to go up and down? For this, people have been looking for all the time. Therefore, to sort out the developing clue of the equilibrium price becomes very meaningful.First, the paper stated the original equilibrium price idea. Then it discussed the equilibrium price theory in the classical Economics period. Afterwards respectively introduce the classical price theory of different Economists in U.K. and France, Extract the clue of equilibrium price thought. Then the paper review three price theory emerge in the process of classical Economics development, after Adam Smith and Ricardo's theory, that is utility theory, the theory of supply and demand deciding the price and the expense of production theory. In the following, introduce the price ideas of typical representatives in this period.Then, review the general law of price running and the price theory of Marxian, which base on production price. The scientific price theory is one of the important parts in Marxist Economics theory. More attentions need to be paid to it, because for a long time, the Economists overemphasize Marxist value theory and neglect Marxist price theory. Therefore, studying Marxist price theory has a great theory meaning naturally.And then Share the cause of the marginal revolution and describe the marginal utility theory in detail, narrate the different price ideas of the different Economists in the marginal revolution period. Then the paper gave a summative review of inevitability of equilibrium price idea, review the clue of equilibrium price theory from classical time to the eve of Marshall times, Obtain the inevitability of the equilibrium price theory. And then to narrate the Marshall equilibrium price theory in detail. Finally, conclude and sum up the way and the ideas during the developing of the theory. Then point out the contribution to Economics education and study. And indicate the guiding significance on market mechanism in our country.