Carl Menger-Founder of the Austrian School of economics (1840–1921)

Carl Menger Founder of the Austrian School of economics (1840–1921)

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Mackenzie High School (Guyana)

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Carl Menger von Wolfensgrün was an Austrian economist and the founder of the Austrian School of economics. Menger contributed to the development of the theories of marginalism and marginal utility, which rejected cost-of-production theory of value, such as developed by the classical economists such as Adam Smith and David Ricardo. As a departure from such, he would go on to call his resultant perspective, the subjective theory of value.