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...
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...
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...
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...
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...