Dupuit Ars'ne Jules

Dupuit Ars�ne Jules

Dupuit, Ars'ne Jules (1804-66), French economist. He was trained as a civil engineer and began his career in the service of the French Government. In supervising the construction of roads and waterways he reflected on their advantage to the general public, and his efforts to measure this advantage led bin to develop a theory of utility. His views were published in the French technical journal Amsales des pmts et chaussdes in 1844 and 1849. In these papers Dupuit devised a means of measuring utility with the aid of geometrical diagrams, and developed a theory very similar to Marshall's 'consumer's surplus'. He was one of the first to use the concept of the demand curve.

Durable Goods, commodities that yield a stream of services over time. They include consumer durables and producers' or capital goods. The phrase occurs particularly in the over-investment' theories of the trade cycle where durable goods play a strategic role in explaining economic fluctuations.

Capital-goods industries and industries producing consumer durables are, by and large, more severely affected than other industries in the downswing of the trade cycle. It is argued that during the period of prosperity the capital-goods industries expand more rapidly than consumer-goods industries, because of the operation of the 'accelerator'. Since an expanded output of the capital-goods industries can be sustained only if the rate of increase of demand for consumption goods is maintained, the basis of prosperity in the capital-goods industries is precarious. A tendency for consumption demand to level out may produce sharp falls in their output which may indicate the end of an upswing and the onset of recession and subsequent depression. Consumer durables are also included in this analysis, since they too can be regarded as subject to the accelerator principle.

Durbin, E. F. M. See Calculation, Economic.

Dynamic Analysis. See Dynamic State; Static Analysis.

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