Early Austrian Economics

Early Austrian Economics

New Importance for the Consumer

Downloadable Audiobook - 2006 | Unabridged
Rate this:
Carl Menger (1840-1921), and Eugen von Bohm-Bawerk (1851-1914), working in Vienna in the late nineteenth century, rejected the classical and Marxian ideas that value can be measured objectively. They insisted that the subjective preferences of consumers determine value; this shifted the attention of economic analysis from productive power to consumer demand. This shift led to keen new insights, including the idea that the marginal utility of goods, i.e., the usefulness to a consumer of one more (or less) unit of an item, determines its price. Other insights of the early Austrians include an explanation of why interest is necessary; how the price system allocates economic resources; how to determine cause vs. effect in economic affairs; and how to distinguish between the means (activities) and ends (goals) of economic activity.
Publisher: [United States] : Knowledge Products, Inc. : Made available through hoopla, 2006
Edition: Unabridged
Characteristics: 1 online resource (1 audio file (2hr., 30 min.)) : digital
ISBN: 9781433237850
1433237857

Opinion

From the critics


Community Activity

Comment

Add a Comment

There are no comments for this title yet.

Age

Add Age Suitability

There are no ages for this title yet.

Summary

Add a Summary

There are no summaries for this title yet.

Notices

Add Notices

There are no notices for this title yet.

Quotes

Add a Quote

There are no quotes for this title yet.

Explore Further

Recommendations

Subject Headings

  Loading...
No similar edition of this title was found at Skokie Public Library.

Try searching for Early Austrian Economics to see if Skokie Public Library owns related versions of the work.


Suggest for Purchase

  Loading...
[]
[]
To Top