Early Austrian Economics Audiobook By Israel Kirzner cover art
Early Austrian Economics Audiobook
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Early Austrian Economics Audiobook

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by Israel Kirzner

  • Narrated by: Louis Rukeyser
  • Length: 2 hrs and 28 mins
  • Release date: 07-14-06
  • Language: English

Carl Menger (1840-1921) and Eugen von Bohm-Bawerk (1851-1914), working in Vienna in the late nineteenth century, rejected the classical and Marxian ideas that value can be measured objectively. They insisted that the subjective preferences of consumers determine value; this shifted the attention of economic analysis from productive power to consumer demand.

This shift led to keen new insights, including the idea that the marginal utility of goods determines its price. Other insights of the early Austrians include an explanation of why interest is necessary, how the price system allocates economic resources, how to determine cause vs. effect in economic affairs, and how to distinguish between the means (activities) and ends (goals) of economic activity.

Additional information

Author

Israel Kirzner

Language

English

Length

2 hrs and 28 mins

Narrated by

Louis Rukeyser

Release date

07-14-06

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