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Carl Menger

Category
SCIENCES

Language
GERMAN

Carl Menger von Wolfensgrün[2] 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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