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Menger
 

Menger

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    Menger Menger Presentation Transcript

    • Group 1 資科四 黃敬傑 經三甲 何牧寰 經三⼄乙 羅浩芸 經三⼄乙 彭剴意 經三⼄乙 鄭伊伶
    • Question
    • Explain how Menger’s theory of factorimputation is consistent with the Austrianview that utility, not input cost, is the sourceof value.
    • OutlineWho’s Carl Menger?What’s Austrian school?What’s the common between Menger andAustrian?
    • Who’s Carl Menger?
    • Carl Menger1840 - 1921Son of a lawyerA professorPrinciples of Economics
    • Menger’s Value Theory
    • Example
    • The Theory of ImputationEmphasis on consumer demand.Though only indirectly, intermediategoods help to produce things also bringsutility.The doctrine was an attack on real-costtheory of value.
    • Austrian School
    • OutlineConsidered that the value is determinedby subjective individual preference.Asserted that economical decision israther individual than collective.There is no objective exchange value,because its root is bedded in thesubjective estimates of the individuals.
    • What’s the common between Menger and Austrian
    • Austrian School
    • Price or value is determined by the demand side.
    • Thank you