Carl Menger: Most

Carl Menger was founder of the Austrian School of economics. Explore interesting quotes on most.

Carl Menger: 12 quotes0 likes

“The solution of the most important problems of the theoretical social sciences in general and of theoretical economics in particular is thus, closely connected with the question of theoretically understanding the origin and change of 'organically' created social structures.”

Source: Investigations into the Method of the Social Sciences, 1883, p. 147

“Assuming… that all available goods of higher order are employed in the most economic fashion, the value of a concrete quantity of a good of higher order is equal to the difference in importance between the satisfactions that can be attained when we have command of the given quantity of the good of higher order whose value we wish to determine and the satisfactions that would be attained if we did not have this quantity at our command.”

Source: Principles,, p. 164-5; cited in: Randall G. Holcombe, Great Austrian Economists, p. 90

“Not only in the realm of the ethical world, and of economy, but also in that of natural phenomena, the realistic orientation of theoretical research can lead only to "real types" and "empirical laws." And in the above point of view, at any rate, no essential difference between the ethical and the natural sciences exists, but at most only one of degree. The realistic orientation of theoretical research excludes in principle, rather, in all realms of the world of phenomena the possibility of arriving at strict (exact) theoretical knowledge.”

Source: Investigations into the Method of the Social Sciences, 1883, p. 58