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[[Image:Carl Menger.png|thumb|right|150px|Carl Menger]]
Carl Menger (1840–1921) was the founder of the [[Austrian Economics|Austrian School]]. He is most famous for the theory of [[marginal utility]], but made many more important contributions, including to the theory of [[price]]s and was instrumental in the so-called [[Wikipedia:Methodenstreit|Methodenstreit]], a dispute about the proper methods of the science of economics.


Carl Menger (1840-1921) was the founder of the [[Austrian Economics|Austrian School]]. He is most famous for the theory of [[marginal utility]], but made many more important contributions, including to the theory of [[price]]s and was instrumental in the so-called [[Wikipedia:Methodenstreit|Methodenstreit]], a dispute about the proper methods of the science of economics.
In his book ''The Origins of Money'', Menger explains that it is not government edicts that create money but instead the marketplace. Individuals decide what the most marketable good is for use as a medium of exchange. "Man himself is the beginning and the end of every economy," and so it is with deciding what is to be traded as money. Menger developed a complete theory of social institutions arising from interactions among humans, each with his own subjective knowledge and experiences. It is the spontaneous evolution of these human actions that create institutions whereby individuals discover certain patterns of behavior that aid each person in attaining his goals more efficiently. Nothing is more central to this evolution than the development of money, making the division of labor possible and satisfaction of wants attainable.
<ref name="French_Menger">Carl Menger and Doug French. [http://mises.org/daily/3993 "Menger Explains the Origins of Money"], Mises Daily from Monday, January 04, 2010, referenced 2010-01-05.</ref>


==See also:==
==References==
* [http://mises.org/about/3239 "Biography of Carl Menger: The Founder of the Austrian School (1840-1921)"]
{{Reflist}}
* [[Wikipedia:Carl Menger|Carl Menger]] on the Wikipedia
 
* [http://www.econlib.org/library/Enc/bios/Menger.html Biography] at the Concise Encyclopedia of Economics
==See also==
* [http://homepage.newschool.edu/het//profiles/menger.htm Profile] on Carl Menger at the History of Economic Thought website
===Bibliography===
* {{cite encyclopedia
|last=|first=|authorlink=
|editor-last=Henderson|editor-first=David R.|editor-link=Wikipedia:David R. Henderson
|title=Carl Menger (1840-1921)
|url=http://www.econlib.org/library/Enc/bios/Menger.html
|encyclopedia=[[Wikipedia:The Concise Encyclopedia of Economics|The Concise Encyclopedia of Economics]]
|year=2007
|publisher=[[Wikipedia:Liberty Fund|Liberty Fund]]
|location=Indianapolis, Indiana
|isbn=978-0-86597-665-8
|oclc=123350134
|pages=565-566
}}
* {{Cite book
|editor-last=Latzer|editor-first=Michael|editor-link=
|editor2-last=Schmitz|editor2-first=Stefan W.|editor2-link=
|title=Carl Menger and the Evolution of Payments Systems: From Barter to Electronic Money
|publisher=Edward Elgar
|place=Cheltenham
|year=2002
|url=
|isbn=978-1-84064-918-5
|oclc=48987833
}}
* {{Cite book
|last=Menger|first=Carl|authorlink=Carl Menger
|title=[[Principles of Economics]]
|publisher=[[Mises Institute|Ludwig von Mises Institute]]
|place=Auburn, Alabama
|year=2007
|isbn=978-1-933550-12-1
|oclc=123178515
}}
* {{Cite book
|last=Menger|first=Carl|authorlink=Carl Menger
|title=Investigations into the Method of the Social Sciences
|publisher=[[Mises Institute|Ludwig von Mises Institute]]
|place=Auburn, Alabama
|year=2009
|url=http://mises.org/document/4062/Investigations-into-the-Method-of-the-Social-Sciences
|isbn=978-1-61016-150-3
|oclc=
}}
* {{Cite book
|last=Menger|first=Carl|authorlink=Carl Menger
|title=On the Origins of Money
|publisher=[[Mises Institute|Ludwig von Mises Institute]]
|place=Auburn, Alabama
|year=2009
|url=http://mises.org/document/4984/On-the-Origins-of-Money
|isbn=978-1-933550-59-6
|oclc=664877242
}}
* {{Cite journal
|last=Ream|first=Roger R.|authorlink=Wikipedia:Roger Ream
|title=Book Review: Principles of Economics by Carl Menger
|journal=[[The Freeman]]
|volume=32|issue=2
|year=1982
|pages=127-128
|url=http://www.fee.org/the_freeman/detail/book-review-principles-of-economics-by-carl-menger
}}
* {{Cite book
|last=Salerno|first=Joseph T.|authorlink=Joseph Salerno
|editor-last=Holcombe|editor-first=Randall G.|editor-link=Wikipedia:Randall G. Holcombe
|title=15 Great Austrian Economists
|publisher=[[Mises Institute|Ludwig von Mises Institute]]
|place=Auburn, Alabama
|year=1999
|url=
|isbn=0-945466-04-8
|oclc=44942957
|pages=71-100
|chapter=Carl Menger: The Founding of the Austrian School
}}
* {{Cite book
|last=Schumpeter|first=Joseph A.|authorlink=Joseph Schumpeter
|title=Ten Great Economists: From Marx to Keynes
|publisher=[[Wikipedia:Routledge|Routledge]]
|place=London
|year=1997
|isbn=0-415-11078-5
|oclc=52743301
|pages=80-90
|chapter=Carl Menger (1840-1921)
}}
 
===Links===
* [https://freecapitalists.org/authors/carl-menger/ Author page and works at the Liberty Archive]
* {{wplink}}
* {{cite web
|url=http://mises.org/page/1459/Biography-of-Carl-Menger-The-Founder-of-the-Austrian-School-18401921
|title=Biography of Carl Menger: The Founder of the Austrian School (1840-1921)
|last=Salerno|first=Joseph T.|authorlink=Joseph Salerno
|publisher=[[Mises Institute|Ludwig von Mises Institute]]
|accessdate=9 March 2013
}}
* {{md|3838|Menger the Revolutionary|[[Wikipedia:Roger Ream|Roger R. Ream]]|Tuesday, November 10, 2009}}
* {{md|3993|Menger Explains the Origins of Money|[[Carl Menger]] and [[Doug French]]|Monday, January 04, 2010}}
* Online editions of [http://mises.org/literature.aspx?action=author&Id=47 Menger's books]
* Online editions of [http://mises.org/literature.aspx?action=author&Id=47 Menger's books]
[[Category:Historical]]
 
[[Category:Economists]]
{{DEFAULTSORT:Menger, Carl}}

Latest revision as of 04:23, 13 August 2026

Carl Menger

Carl Menger (1840–1921) was the founder of the Austrian School. He is most famous for the theory of marginal utility, but made many more important contributions, including to the theory of prices and was instrumental in the so-called Methodenstreit, a dispute about the proper methods of the science of economics.

In his book The Origins of Money, Menger explains that it is not government edicts that create money but instead the marketplace. Individuals decide what the most marketable good is for use as a medium of exchange. "Man himself is the beginning and the end of every economy," and so it is with deciding what is to be traded as money. Menger developed a complete theory of social institutions arising from interactions among humans, each with his own subjective knowledge and experiences. It is the spontaneous evolution of these human actions that create institutions whereby individuals discover certain patterns of behavior that aid each person in attaining his goals more efficiently. Nothing is more central to this evolution than the development of money, making the division of labor possible and satisfaction of wants attainable. [1]

References

  1. ↑ Carl Menger and Doug French. "Menger Explains the Origins of Money", Mises Daily from Monday, January 04, 2010, referenced 2010-01-05.

See also

Bibliography

Links

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