Chapter

Menger's <i>Principles of Economics</i>

Bruce Caldwell

in Hayek's Challenge

Published by University of Chicago Press

Published in print November 2003 | ISBN: 9780226091914
Published online February 2013 | e-ISBN: 9780226091921 | DOI: http://dx.doi.org/10.7208/chicago/9780226091921.003.0002
Menger's Principles of Economics

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This chapter focuses on Carl Menger's Principles of Economics (Grundsätze der Volkswirthschaftslehre), highlighting important themes of the book. Menger had studied law, receiving his degree in 1867. Over the next four years, he worked briefly as a journalist for the leading Viennese newspaper, the Wiener Zeitung, then entered the press section of the prime minister's office, where he was responsible for reporting on economic news. Over the same period, he wrote the Principles of Economics and submitted it as his Habilitation paper. Menger's Principles of Economics is the founding document of the Austrian school of economics, yet, as its name implies, it is basically a textbook. It may seem strange today that a textbook could serve to found a school of thought, but, in contrast with current scholarly practice, professors in the Austro-Hungarian and German Empires typically wrote textbooks rather than articles or monographs.

Keywords: Austrian school; Carl Menger; Principles of Economics; textbooks

Chapter.  8962 words. 

Subjects: Economic History

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