Carl Menger

Created: 2022-12-27
Status: #soil #people
Last Edited: 2022-12-27
Topic: economics

Who is Carl Menger?

Carl Menger (1840–1921) was an Austrian economist and the founder of the Austrian School of economics (Austrian Economics). He is best known for his book Principles of Economics (1871), which is often credited with the founding of the marginalist revolution in economics. Menger's contribution to economics was to argue that value does not arise from use-value or exchange-value, but instead from the subjective preferences of individuals.

His work also emphasized individual choice as the basis for economic behavior, and he argued against mercantilism and socialism in favor of free markets and laissez-faire economics.

He is widely considered to be one of the most influential economists of all time.