Difference between revisions of "Carl Menger"
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Born in Poland, Menger worked as a journalist until he began to suspect that the classical economists he learned in school did not match the price behavior he observd in the market. He developed a theory of marginality authored The Theory of Capital (1888) and Money (1892). | Born in Poland, Menger worked as a journalist until he began to suspect that the classical economists he learned in school did not match the price behavior he observd in the market. He developed a theory of marginality authored The Theory of Capital (1888) and Money (1892). | ||
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Revision as of 15:55, April 26, 2007
Carl Menger (1840–1921) founded the Austrian School of Economics. He developed the theory of marginal utility. He refuted the labor theory of value popularized by classical economists like David Ricardo.
Born in Poland, Menger worked as a journalist until he began to suspect that the classical economists he learned in school did not match the price behavior he observd in the market. He developed a theory of marginality authored The Theory of Capital (1888) and Money (1892).