Home > Uncategorized > Carl Menger’s Theory of Goods

Carl Menger’s Theory of Goods

Carl MengerHello Everyone.

This week we are going to be looking at some of the work of Carl Menger.  In 1871 he developed, simultaneously with William Stanley Jevons and Léon Walras, the concept of marginal analysis.  He not not only introduced a new concept to economics but presented a radical new approach to economic analysis.

Unlike his contemporaries , who independently developed their own concepts of marginal utility during the 1870s, Menger favored an approach that was deductive, teleological, and, in a primary sense, humanistic. While Menger shared his contemporaries’ preference for abstract reasoning, he was primarily interested in explaining the real world actions of real people, not in creating artificial, stylized representations of reality. Economics, for Menger, is the study of purposeful human choice.

While there is much to be said about Carl Menger’s work, on Tuesday we will be be looking at some of his initial ideas on the Theory of Goods.

Date: Tuesday, 10th May
Time: 6pm
Location: 260-219

Look forward to seeing you then.

Postscript: As mentioned in the last post, what we will be looking at relates to chapter one of Carl Menger’s Principles of Economics. I invite you to read over chapter one before you come, if you get the chance.

Categories: Uncategorized
  1. May 17, 2011 at 12:41 am

    Hello Scot
    Cheers for the idea for putting the talks up on youtube. We are not quite at that level yet but hopefully one day we’ll get there. Cheers for keeping intouch with what we are doing

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