Later, William Stanley Jevons's Theory of Political Economy[5] (1871), Carl Menger's Principles of Economics[6] (1871), and Léon Walras's Elements of Pure Economics: Or the theory of social wealth (1874–77)[7] gave way to what was called the Marginal Revolution. Some common ideas behind those works were models or arguments characterized by rational economic agents maximising utility under a budget constraint. This arose as a necessity of arguing against the labour theory of value associated with classical economists such as Adam Smith, David Ricardo and Karl Marx, although the theory itself can traced back to earlier writers.