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Legal Education

Vanderbilt University Law School

1993

Marginalism

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The Marginalist Revolution In Legal Thought, Herbert Hovenkamp Mar 1993

The Marginalist Revolution In Legal Thought, Herbert Hovenkamp

Vanderbilt Law Review

For legal policy the two most important scientific ideas of the nineteenth century were Darwinism and marginalism. Both became the starting points for the great revolutions in the social sciences that took place in the 1870s and later. The central principle of Darwinism is the theory of evolution by natural selection. Because nature produces many more offspring than each niche in the environment can accommodate, individuals of a particular species must compete to survive. Purely at random each individual acquires from its parents a set of characteristics that are different from those of any other individual. Those who inherit characteristics …