Tomorrow will be 98 years since the death of Carl Menger, the founder of the Austrian School of Economics, who passed away on February 26, 1921 at the age of 81. To mark Menger’s passing I have translated from the German, and the American Institute for Economic Research (AIER) has posted on their website, a memorial essay written by another famous Austrian economist, Friedrich von Wieser, “Carl Menger: A Biographical Appreciation,” which was originally published in 1923. It has previously not been published in English.
Wieser explains the status of economic theory before the publication of Menger’s “Principles of Economics” in 1871, the significance of Menger’s contributions in this context, and Menger’s impact and influence on both himself and his brother-in-law the other noted Austrian Economist Eugen von Böhm-Bawerk.
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