WEBVTT

NOTE How do you sum up Menger's contribution to Austrian Economics?

1
00:00:00.000 --> 00:00:24.550
To sum up Menger very quickly, what did he contribute? Again, he essentially brought back or developed a scholastic tradition, the praxeological method, the focus on individual action, entrepreneurship, all this comes in, of course, time, the time structure of production, the focus on individual, the fact that individual values of a consumer determine the expected values of a consumer, determine the value of the factors of production entrepreneurs are willing to invest in.