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Principles of Economics

Carl Menger

Economics & FinancePhilosophy
Featured in: Austrian Economics reading guide
Publish date
2007
Publisher
Createspace Independent Publishing Platform
Description
LARGE PRINT EDITION! More at LargePrintLiberty.com In the beginning, there was Menger. It was this book that reformulated, and really rescued, economic science. It kicked off the Marginalist Revolution, which corrected theoretical errors of the old classical school. These errors concerned value theory, and they had sown enough confusion to make the dangerous ideology of Marxism seem more plausible than it really w…
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Books cited in Principles of Economics

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  1. System der Volkswirthschaft

    Wilhelm Roscher

    Citation

    Menger dedicated his book to Roscher, continually engaging with his historical economic formulations.

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  2. Principles of Political Economy and Taxation

    David Ricardo

    Citation

    Directly challenged Ricardo's labor theory of value, substituting subjective marginal utility.

    High relevanceExplore

  3. Staatswirthschaftliche Untersuchungen

    Friedrich von Hermann

    Citation

    Heavily cited throughout Menger's pioneering classification of goods of different orders.

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  4. The Wealth of Nations

    Adam Smith

    Citation

    Menger critiques Smith's emphasis on the division of labor and objective cost theories of value.

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  5. Grundsätze der Volkswirthschaftslehre

    Karl Heinrich Rau

    Citation

    Menger repeatedly references and critiques Rau's standard definitions of economic goods and value.

    Medium relevanceExplore

  6. Commerce and Government

    Étienne Bonnot de Condillac

    Citation

    Recognized by Menger for anticipating subjective value theory well before the classical school dominated.

    Medium relevanceExplore

  7. Politics

    Aristotle

    Citation

    Examined extensively in Menger's foundational chapter explaining the historical emergence and nature of money.

    Medium relevanceExplore

  8. The Isolated State

    Johann Heinrich von Thünen

    Citation

    Cited regarding agricultural pricing, location theory, and early marginal productivity concepts.

    Medium relevanceExplore

  9. Treatise on Political Economy

    Jean-Baptiste Say

    Citation

    Draws on and critiques Say's insights regarding utility, production, and goods.

    Medium relevanceExplore

  10. Die politische Oekonomie vom Standpunkte der geschichtlichen Methode

    Karl Knies

    Citation

    Cited on the function of money and theoretical concepts of exchange value.

    Medium relevanceExplore

Recommendations

  • The Theory of Political Economy

    William Stanley Jevons

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    Published in the same year, independently co-founding the marginal utility revolution in Britain.

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  • Elements of Pure Economics

    Léon Walras

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    Forms the third pillar of the 1870s marginalist revolution using mathematical general equilibrium.

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  • Natural Value

    Friedrich von Wieser

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    Key Austrian follower who formalized Mengerian price theory and coined the term 'marginal utility.'

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  • Human Action

    Ludwig von Mises

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    Synthesizes Menger's causal-realist subjective economics into a full system of praxeology.

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  • Capital and Interest

    Eugen von Böhm-Bawerk

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    Direct Austrian school successor who applied Menger's subjective value insights to time preference and capital.

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  • Individualism and Economic Order

    Friedrich Hayek

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    Expands on Menger's spontaneous order theories and knowledge dissemination in market processes.

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