The Background of Cairnes’s Value Theory : In Relation to the Background of Jevons’s Value Theory

While Cairnes is said to be the last classical economist, Jevons has been described as one of the first marginal economists. The direct connection between them is well known, however, their ideological connections still haven’t been considered in sufficient depth. This paper considers their theories of value (because the theory of value is the junction between classical economics and marginal economics), and make clear the differences and similarities between Cairnes’s and Jevons’s value theory.