What Is Austrian Economics?
Value, Menger wrote in 1871, is a judgment of economizing people and does not exist outside their minds.
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1.Who decides what a good is worth, according to Menger?
Value, Menger wrote in 1871, is a judgment of economizing people and does not exist outside their minds.
2.Where did Austrian economics begin?
The video names Vienna in the 1870s, with Menger as founder.
3.What did Hayek argue in 1945 about knowledge?
Prices can pass that knowledge along without anyone giving an order; he called it a marvel.
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Sources (8)
- Menger, C.: Principles of Economics (1871), engl. Ausgabe Mises Institute 2007 (Uebers. Dingwall/Hoselitz), Kap. III S. 120-121
- Hayek, F. A.: The Use of Knowledge in Society, American Economic Review 35 (4), 1945, S. 519-530
- von Mises, L.: Human Action (Mises Institute, Scholar's Edition), Kap. I, XVI (Abschn. 5), XX (Abschn. 8)
- Caplan, B.: Why I Am Not an Austrian Economist (George Mason University, spaete 1990er)
- Hayek, F. A. von: The Pretence of Knowledge, Nobel-Vortrag 11.12.1974
- Horn, K., Kolev, S.: Dispute on Method or Dispute on Institutional Context? Foreword to the Translation of Carl Menger's "Errors of Historicism", Econ Journal Watch 17 (2), 2020, S. 442-507
- Skidelsky, R.: Keynes v Hayek: The Four Buts (Mont Pelerin Society Special Meeting, 15.-17.01.2020), zitiert Keynes an Hayek, 28.06.1944 (Collected Writings Bd. 27)
- Eigene Rechnung: Tauschbeispiel Aepfel gegen Brote (Uebungsaufgabe)
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