Carl Menger
Austrian economist and founder of Marginalism
Austrian economist and founder of Marginalism
1840
186 years ago
Thinkers & Philosophers
Austria
An economist and academic who established the foundations of the Austrian School of Economics. Developed the theory of marginal utility, which transformed economic analysis. Published 'Principles of Economics' in 1871, which laid out the principles of subjective value and utility. Contributed to the critique of socialism and was involved in debates with contemporary economists. Engaged in academic discourse and served as a professor, influencing future generations of economists.
Founded the Austrian School of Economics
Published 'Principles of Economics' in 1871
Developed the theory of marginal utility
A Dutch-American economist and mathematician, contributions centered around operations research and economic theory. Played a significant role in developing the theory of optimal economic organization, particularly in decentralized economies. Work laid the foundation for the field of mathematical economics. Received the Nobel Memorial Prize in Economic Sciences in 1975 for contributions to the economic theory that highlights the allocation of resources in a decentralized context. Also served as a professor at Yale University, influencing the next generation of economists.
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