{
 "rec_id": "media-austrian-theory-what-was-menger-s-basic-contribution",
 "course": "austrian-theory",
 "title": "What was Menger's basic contribution?",
 "speaker": "Murray N. Rothbard",
 "source_file": "media/Austrian Theory/What was Mengers basic contribution_ Murray N Rothbard.mp3",
 "model": "medium",
 "language": "en",
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 "generated": "2026-08-03T21:49:36Z",
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 "text": "What Menger did in the press was to really revive the continental traditions, scholastic economic traditions, traditions of Catalan and Turgao in 18th century France, the tradition of subjective value theory, of individual action, really a course of praxeological work, a focus on individual actions and individual expectations and acting through time, And in fact, of course, the consumers valuing the good determine the price of the good and also determine the value of the factors of production. So the whole Austrian, the whole basic outlines of Austrian doctrine were in Minger's principles. They weren't fully worked out, but they were sort of in there. And they were essentially a revival in the development of the scholastic, medieval, late Spanish scholastic and 18th century French tradition.",
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