Publisher Description

The origin of the Austrian School of economics is the publication of Carl Menger’s Principles of Economics in 1871. Menger, William Stanley Jevons, and Léon Walras are considered the co-founders of the “marginal revolution” in economics, a shift to the marginal utility theory of value from the labour theory of value. The revolutionists argued that value is not based on the amount of labour expended but reflects how useful people perceive the commodity to be in satisfying their ends.

GENRE
Business & Personal Finance
RELEASED
2020
December 8
LANGUAGE
EN
English
LENGTH
68
Pages
PUBLISHER
The Fraser Institute
SELLER
The Fraser Institute
SIZE
422.1
KB

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