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2. The Origin and Decline of the Austrian School: Menger, Böhm-Bawerk, and Wieser
Where the classical economists had gone wrong was to speak of goods as if they were abstract classes. The Austrians noted that their value theory did not talk about concrete units and could not explain how individuals valued goods.
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By Joseph T. Salerno
4
4545 ratings
Where the classical economists had gone wrong was to speak of goods as if they were abstract classes. The Austrians noted that their value theory did not talk about concrete units and could not explain how individuals valued goods.
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