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17 July 2009
Menger on Qualitatively Different Goods
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: A Mengerian Solution to the Diamond-Water Paradox In section C of the chapter on value in Principles, Menger shifts from questions of quantity to... Read More...
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12 July 2009
A Mengerian Solution to the Diamond-Water Paradox
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger on Multi-Purpose Homogenous Goods Let us say two men want to make a trade. One man offers water, the other diamonds. The water seller has a... Read More...
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02 July 2009
Menger on Multi-Purpose Homogenous Goods
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger's Value Scale . In Section 2, Part B of his chapter on value, Menger discusses "the dependence of separate satisfactions on particular... Read More...
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27 June 2009
Menger's Value Scale
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Mengerian Marginalism A chief insight of Menger's value theory is the recognition that, it is not enough to simply ask the question, "which... Read More...
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19 June 2009
Mengerian Marginalism
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Further Mengerian Insights on Value The most important opening shot of the Marginal Revolution was fired with the following passage: careful examination... Read More...
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19 June 2009
Further Mengerian Insights on Value
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger and Value-Free Universals Utility is not Use Value All goods have utility, because, by definition, goods have the ability to satisfy needs... Read More...
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19 June 2009
Menger and Value-Free Universals
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Value Theory Before Menger To understand Menger's insight into value (and the Classical School's lack thereof), it would be useful to brush... Read More...
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19 June 2009
Value Theory Before Menger
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 3 . Previously in this series: Menger on Wealth and Prosperity What is it that gives a good its value? Throughout the history of thought, there have been two kinds of theories regarding... Read More...
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19 June 2009
Menger on Wealth and Prosperity
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger and the Teleological Nature of Economics The following are Menger's main points in his discussion on wealth: A person's wealth, as... Read More...
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19 June 2009
Menger and the Teleological Nature of Economics
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Economic Character of Higher Order Goods and the Deductive Method of Menger Thus far, Menger has established that higher order goods only have goods... Read More...
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19 June 2009
Economic Character of Higher Order Goods and the Deductive Method of Menger
This post is part of a series exploring Principles of Economic s by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Natural Communism the existence of requirements for goods of higher order is dependent upon the corresponding goods of lower order having... Read More...
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19 June 2009
Menger on Natural Communism
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Economic vs. Non-Economic Goods As discussed before, economic goods (goods for which requirements exceed available quantities) necessitate... Read More...
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19 June 2009
Menger on Economic vs. Non-Economic Goods
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Property If a good is scarce (that is, if requirements for it exceed its available quantities), then it is an economic good, which is to... Read More...
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19 June 2009
Menger on Property
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Economizing We do not live in paradise. There is always scarcity: requirements in society always exceed available quantities. Therefore... Read More...
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19 June 2009
Menger on Economizing
This post is part of a series exploring Principles of Economics by Carl Menger. The following explores content from chapter 2 . Previously in this series: Menger on Available Quantities When a good is scarce (when the requirements for it exceed its available quantity), men economize it, which means they... Read More...
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