Carl Menger
Founder of the Austrian School of economics (1840–1921) / From Wikipedia, the free encyclopedia
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This article is about the economist. For his son, the mathematician, see Karl Menger.
Carl Menger von Wolfensgrün[2] (/ˈmɛŋɡər/; German: [ˈmɛŋɐ]; 28 February 1840[3] – 26 February 1921) was an Austrian economist and the founder of the Austrian School of economics. Menger contributed to the development of the theories of marginalism and marginal utility,[4] which rejected cost-of-production theory of value, such as developed by the classical economists such as Adam Smith and David Ricardo. As a departure from such, he would go on to call his resultant perspective, the subjective theory of value.[5]
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Quick Facts Born, Died ...
Carl Menger von Wolfensgrün | |
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Born | (1840-02-28)28 February 1840 |
Died | 26 February 1921(1921-02-26) (aged 80) |
Nationality | Austrian |
Academic career | |
Field | Economics |
School or tradition | Austrian School |
Alma mater | University of Prague University of Vienna Jagiellonian University |
Other notable students | Prince Rudolf |
Influences | |
Contributions | Marginal utility, Subjective theory of value |
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