Abstract:

The article presents the results of marginalism theory analysis and contribution of the new direction in the development of economic theory. Initially, objective and subjective causes of marginalism appearance are showed, attention is focused on the theoretical crisis of the classical school at the end of the 19th century and growing popularity of new schools in economic theory - historical one, school of Marxist economic doctrine. The author emphasizes that the core of the marginalists' analysis is the study of value. In contrast to the classics, the new theory declares "value" to be a subjective substance. The quantity of value is here determined by the proposition that “utility” is a function of quantity. The article substantiates the conclusion that the effectiveness of marginalists' research  is largely determined by the use of such methodological techniques as: hedonistic principle, the method of static, equilibrium state of the economy, transfer of research to a specific individual consumer, in this regard, the use of the “robinsonade” method (economic activity of a single recluse person). The fact of using various tools in economic analysis - graphical, mathematical, tabular one - is highlighted. The author emphasizes that the doctrine of value is considered from the perspective of a particular person - consumer of material goods. Theoretical research in this aspect makes the marginalists theory to be attractive for practice. Based on the law of decreasing utility, marginalists formulate the terms of exchange; determine the mechanism for forming the quantity of value, introducing the already known category of “marginal utility” into circulation.