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© 2018, The Columbia University Press.

Carl Menger: Selected full-text books and articles

Essays in European Economic Thought By 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 By Lawson, Clive Review of Social Economy, Vol. 54, No. 4, Winter 1996
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 By Knut Wicksell; Erik Lindahl Harvard University Press, 1958
Librarian's tip: Includes "Carl Menger" and "The New Edition of Menger's Grundsatze"
On Revolutions and Progress in Economic Knowledge By T. W. Hutchison Cambridge University Press, 1978
The Ethics of Competition, and Other Essays By Milton Friedman; Frank Hyneman Knight Augustus M. Kelley Inc., 1951
Librarian's tip: Chap. 5 "Marginal Utility Economics"
Methodological Individualism: Background, History, and Meaning By Lars Udehn Routledge, 2001
Librarian's tip: Chap. 4 "Austrian Methodological Individualism"
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