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Carl Menger's Principles of Economics - I

Hermitix

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Menger's Theory of the Good

Economic theory is concerned not with practical rules for economic activity, but with the conditions under which men engage in prominent activity directed to the satisfaction of their needs. Menger begins by stating that all things are subject to the law of cause and effect. Cryptically I think this can be understood as supply and demand to a certain degree. Whether or not I'm right on that, that's up for someone else to decide,. But I believe so, I believe supply and demand really is just a matter of cause and Effect.

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