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| Author: | Endres, A. M. |
| Title: | The microeconomics of Carl Menger |
| Journal: | KSU Economic and Business Review
1996 : MAY, VOL. 23, p. 1-10 |
| Index terms: | MICROECONOMICS ECONOMIC THEORY AUSTRIAN SCHOOL |
| Language: | eng |
| Abstract: | The "marginalist" revolution of the 1870's is recognised in most of the textbooks in economic theory as a major advance in economic thought. The forging of new analytical tools by William Stanley Jevons, Leon Walras and Carl Menger helped transform classical economics into neoclassical economics. These early developments in the 1870's were significant because they persuaded several generations of economists to focus their attention on microeconomic foundations before building macroeconomic theories. |
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