Social Economics holds a place in the literature of the Austrian School such as John Stuart Mill's Political Economy holds in the literature of classical theory. It sums up, systematises and extends the doctrines developed by the founder of the school, the author and his fellow workers.
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Social Economics holds a place in the literature of the Austrian School such as John Stuart Mill's Political Economy holds in the literature of classical theory. It sums up, systematises and extends the doctrines developed by the founder of the school, the author and his fellow workers.
Read Less
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Seller's Description:
Backstrip sun-faded; two corners very slightly frayed; pages lightly toned and edge-browned; top corner of a few pages folded; small tear at top margin of p.311; previous owner's name and old sticker on front endpaper; otherwise very good condition (no dust jacket). ]. 470p.
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Seller's Description:
First edition in English. Octavo, original cloth. In very good condition with the spine gilt bright. Translated by A. Ford Hinrichs. Preface by Wesley Clair Mitchell. Wieser's two main contributions to economic theory are the theory of "imputation, " establishing that factor prices are determined by output prices and the theory of "alternative cost" or "opportunity cost" as the foundation of value theory. Both are fundamental "subjectivist" pillars in Neoclassical theory which were effectively ignored by Alfred Marshall and the "real cost" British theorists.