The Birth of the Austrian School

07/19/2021 Joseph T. Salerno

Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.

Download lecture slides at Mises.org/MU21_PPT_01.

Recorded at the Mises Institute in Auburn, Alabama, on 19 July 2021.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.