Difference between revisions of "Carl Menger"
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'''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]]. | '''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 | + | Born in Galicia (now in modern [[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 observed in the market. He developed a theory of marginality authored ''The Theory of Capital'' (1888) and ''Money'' (1892). |
==References== | ==References== | ||
Revision as of 23:29, June 23, 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 Galicia (now in modern 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 observed in the market. He developed a theory of marginality authored The Theory of Capital (1888) and Money (1892).
References
- Salerno, Joseph T. Carl Menger: The Founder of the Austrian School Ludwig von Mises Institute accessed June 23, 2007