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Loading... Principios de Economía Política (Biblioteca de Economía) (edition 1996)by Carl Menger
Work InformationPrinciples of Economics by Carl Menger
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Sign up for LibraryThing to find out whether you'll like this book. No current Talk conversations about this book. One of the great books of economics. ( ) This flawed work of economic theory is the best work I've ever read on the subject. Over 130 years since publication, it remains the best introduction to the science. The author carefully builds the foundations for subjectivist and marginalist theory about value, utility, and exchange, delineates a theory of the FORMATION (not DETERMINATION) of prices, and offers an account for the evolution of money. The book's main problem, for modern readers, is that he does not use the terminology that has become standard in the discipline. But that's a small complaint. Besides, if one reads and understands Menger's account, the struggle with the discipline's terminology and leading concepts is a necessary education in and of itself, and might as well be done by each student, not pre-digested. It's a good exercise, then, to read the book and then begin the translation and critique of the economics that came later. Menger's book became the start of a distinct school of economics, the so-called Austrian School. The Austrian economist Ludwig von Mises claimed that this book began his real education, made him "think like an economist." And that was already after Mises had written a respected book in the field! Menger's book is still important to the school, while the works of Jevons, Walras, and Marshall have been largely superceded. Interesting disjunction, no? no reviews | add a review
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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 was.Menger set out to elucidate the precise nature of economic value, and root economics firmly in the real-world actions of individual human beings.For this reason, Carl Menger (1840-1921) was the founder of the Austrian School of economics. It is the book that Mises said turned him into a real economist. What's striking is how nearly a century and a half later, the book still retains its incredible power, both in its prose and its relentless logic. No library descriptions found. |
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