Menger the Revolutionary
To comprehend Menger's achievement, one must understand the context into which it fits. It was Menger who elaborated the logical foundations of marginal-utility theory and it was his Principles specifically that served as the basic text. FULL ARTICLE by Roger Ream
Comments (3)
Old Hop
Menger is my favorite Austrian. I read his Principles last fall and was struck by its careful, straightforward exposition. The lecture notes for the high school economics class I teach are drawn chiefly from Menger.
I need to get the Menger t-shirt.
Published: November 10, 2009 9:05 AM
Sean
Old Hop,
Awesome that you are teaching this to your high school students. So, so fundamentally valuable are so many of Menger's ideas.
Published: November 10, 2009 9:53 AM
fundamentalist
One of my favorite Menger quotes: "“It may well appear deplorable to a lover of mankind that possessions of capital or a piece of land often provides the owner of a higher income for a given period of time than the income received by a laborer for the most strenuous activity during the same period. Yet the cause of this is not immoral, but simply that the satisfaction of more important human needs depends upon the services of the given amount of capital or piece of land than upon the services of the laborer."
The satisfaction of the most important human needs depends more on capital than it does on labor. That's hard for people to swallow!
Published: November 13, 2009 8:40 AM