Carl Menger

Carl Menger (kärl mĕng´ər), 1840–1921, Austrian economist, a founder of the Austrian school of economics. He was professor of economics at the Univ. of Vienna from 1873 until 1903, when he retired to devote himself to research. Following an empirical approach rather than the historical method, he formulated a theory of marginal utility. The basic principle is that consumer goods have value of two orders, as they serve human needs directly or indirectly; thus he explained the economic phenomena of price and distribution in terms of social value. His theories are well known to the English-speaking world through the works of some of his associates, especially Friedrich von Wieser and Eugen von Böhm-Bawerk. In response to a particularly negative review of Menger's Problems of Economics and Sociology (1883) by Gustav Schmoller, Menger published a critique of the historical school of economics. This exchange resulted in long-standing animosity between the two schools of economic thought. His chief work is Principles of Economics (1871; tr. 1950).

The Columbia Encyclopedia, 6th ed. Copyright© 2014, The Columbia University Press.

Carl Menger: Selected full-text books and articles

Problems of Economics and Sociology: (Untersuchungen Uber Die Methode der Socialwissenschaften und der Politischen Oekonomie Insbesondere)
Louis Schneider; Francis J. Nock; Carl Menger.
University of Illinois Press, 1963
The Philosophy of the Austrian School
Raimondo Cubeddu.
Routledge, 1993
Essays in European Economic Thought
Louise Sommer.
Van Nostrand, 1960
Librarian’s tip: Chap. 1 "Toward a Systematic Classification of the Economic Sciences" by Menger
Realism, Theory, and Individualism in the Work of Carl Menger
Lawson, Clive.
Review of Social Economy, Vol. 54, No. 4, Winter 1996
PEER-REVIEWED PERIODICAL
Peer-reviewed publications on Questia are publications containing articles which were subject to evaluation for accuracy and substance by professional peers of the article's author(s).
Selected Papers on Economic Theory
Knut Wicksell; Erik Lindahl.
Harvard University Press, 1958
Librarian’s tip: Includes "Carl Menger" and "The New Edition of Menger's Grundsatze"
How Economics Forgot History: The Problem of Historical Specificity in Social Science
Geoffrey M. Hodgson.
Routledge, 2002
Librarian’s tip: Chap. 7 "Out of Austria: Carl Menger and the Methodenstreit"
On Revolutions and Progress in Economic Knowledge
T. W. Hutchison.
Cambridge University Press, 1978
The Ethics of Competition, and Other Essays
Frank Hyneman Knight; Milton Friedman.
Augustus M. Kelley Inc., 1951
Librarian’s tip: Chap. 5 "Marginal Utility Economics"
Methodological Individualism: Background, History, and Meaning
Lars Udehn.
Routledge, 2001
Librarian’s tip: Chap. 4 "Austrian Methodological Individualism"
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