Presenting a wide range of topics and written 150 years since Carl Menger’s Principles of Economics was published, this timely book reviews Menger’s life and theories and explains how his insights on the creation of money are still inspiring and relevant today. Highlighting state-of-the-art results on Menger’s methodology and economic theory, the book expertly analyses key topics such as the debt theory of money, capital wealth and the gender wage gap.

Chapter 1: Introduction -- Chapter 2: Menger and Bohm-Bawerk. Weaknesses: rent, interest, production, distribution -- Chapter 3: Price, cost and utility: A theory of entrepreneurship (Wicksteed, Davenport, Fetter) -- Chapter 4: Marginal productivity theory (Carver, Clark, Davenport, Wicksteed) -- Chapter 5: Theory of rent (Fetter) -- Chapter 6: Pure time preference theory of interest (Fischer, Fetter) -- Chapter 7: Competition and monopoly (Fetter, Clark, Wicksteed, Davenport) -- Chapter 8: Mises and Rothbard - what they took from the psychological school -- Chapter 9: Conclusion.

Papers from a conference held on 15-17 April, 1989, to commemorate the acquistion by the Duke University of the papers of Carl Menger.

This book explores the neglected contribution of the American and English “psychological” school to economic theory, especially to the development and refinement of the Austrian school of economics. It argues that Frank Knight, Frank Fetter, Herbert Davenport, Philip Wicksteed and J.B. Clark among others improved on the original Austrian theory by Menger and Bohm-Bawerk by providing a coherent subjectivist foundation for the theories of production and distribution. They succeeded where economic theory before them failed – to develop the theories of interest, profit, wages and rents based solely on the principles of subjective value and marginal utility, eschewing the last remnants of the old cost of production models. This book represents a look at what mainstream economic theory might have looked like had the erasure of Mengerian Austrian price theory by Marshallian and Walrasian thoeries not taken place, and had the improvements and refinements of the Mengerian tradition, itself done by the Anglo-Saxon followers of Menger, been fully appropriated.

First published in 1892, Carl Menger's article "Geld" ("Money") has been extremely influential on the thinking of today's neoclassical and New Institutionalist economic theorists, argue Latzer and Schmitz (both of the Research Unit for Institutional Change and European Integration at the Austrian Academy of Sciences). They present the first full English translation of the article (occupying nearly half the volume) alongside commentary by current theorists on the article's continuing relevance to theories about the origins and the future of money. Annotation copyrighted by Book News, Inc., Portland, OR

This book provides the first comprehensive and critical examination of Mäki’s realist philosophy of economics.

Carl Menger, Friedrich Wieser and Eugen Bohm-Bawerk are acknowledged as pioneers in the development of neoclassical economics, as well as being recognized as the founders of the Austrian School of Economics. Neoclassical Microeconomic Theory examines their contribution and compares it with the other branches of neoclassical economics that emerged b