The Division of Labor and Social Order
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Austrian Economics Overview
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Subjective Value and Market Prices
This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
The Birth of the Austrian School
Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.
The Laws Governing Goods-Character
The following reading is selected from Principles of Economics, chapter I, “The General Theory of the Good,” by Carl Menger.
The Causal Connections Between Goods
The following reading is selected from Principles of Economics, chapter I, “The General Theory of the Good,” by Carl Menger.
Carl Menger: The Founding of the Austrian School
Despite the many illustrious forerunners in its six-hundred-year prehistory, Carl Menger was the true and sole founder of the Austrian School of ec
