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The contribution as this question it is a lot of misunderstanding. Often believe that the contribution
The Austrians consisted only in slightly mechanical attempt to apply a principle
Limiting utility to a problem of value of money. But it not so. The main thing
Achievement of the Austrians in this area consists in the consecutive
Use at development of a monetary theory subjectivistic or
The individualistic approach which and really underlies the analysis with
Items of limiting utility, but has thus much wider and
More universal significance. This achievement is a direct merit
- . Its exposition of sense of various concepts of value of money, the reasons
Changes and possibilities of measurement of this value, all it, as to me
It is represented, represents significant progress compared with the traditional
The quantitative theory based on interpretation modular and average
Sizes. And even there, where, as in a case with usual distinction for it between
"External" and "internal" value of money (innere und auserer Tauschwert),
Used terms mislead - distinction, contrary to a little
Terminology, concerns not various kinds of value, but to various forces,
Acting on the prices - base statement of a problem is amazingly modern.
Uncertainty see at Erich Streissler, "Menger's Theory of Money and
Uncertainty ", in Hicks and Weber, op. cit., pp. 164 - 189. - it. It.]
The list of the basic works of Mengera which have appeared at his life, sharply breaks on
Publications of 1892. [In addition to already noted, has the same year appeared
The French article "La Monnaie Mesure de la Valeur", in the Revue d'Economie
Politique, vol. 6, 1892, and English "On the Origin of Money" in the Economic
Journal, vol. 2, 1892, pp. 239 - 255.] In three decades which have remained to it of a life
It has published only a number of the small articles which list can be found in
Bibliographies in the end of the last volume of collected works [cit. The reprint
Edition LSE described in this chapter, comment 1 - it. It.]. Some more years
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