One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory.
You May Also Like
World News
Regulators with the European Union want people to believe that the “dead hand” of government regulation actually enhances competition. The only thing their actions...
World News
While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was...
World News
John Hasnas has written a new book outlining how societies operate with mutual cooperation and common law. According to David Gordon, it is a...
Tech News
The Boox Palma 2 features a faster processor and a fingerprint reader. | Image: Boox Boox has announced the Palma 2, the next version...