Retrospect and Prospect.

The article discusses issues concerning the emergence and interpretation of the idea of marginalism or marginal revolution in relation to political economy. It highlights the original provocative work of economist Mark Blaug entitled "There Never Was a Marginal Revolution" as well as the contributions of economists William Stanley Jevons, Carl Menger, and Leon Walras in the development of economic theory. It discusses the critical role of utilitarianism as stressed by economist Robert Black and George Stigler.