Carl Menger and the foundations of Austrian economics

posted by
February 23, 2016
Future of Freedom Foundation
by Richard M Ebeling  
Posted in Commentary

"Today is Austrian economist, Carl Menger's, birthday. Born on February 23, 1840, he died on February 26, 1921, at the age of 81. Menger is most well known as one of the first formulators of the theory of marginal utility, separately though in published form almost simultaneously, with William Stanley Jevons and Leon Walras in the early 1870s. But this work also marked the beginning of a uniquely distinct 'Austrian School of Economics' based on the theory of subjective value, of which he became viewed as the 'founding father.'" (02/23/16)  

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