The New International Encyclopædia/Menger, Karl

MENG′ER, Karl (1840—). An Austrian economist, born at Neu-Sandez, in Galicia. He studied law and political science in Vienna and Prague, and in 1873 became professor of political economy at the University of Vienna. Since 1900 he has been a member of the Austrian House of Peers. He was the leader of a reaction against the historical method in economics, and is one of the most prominent leaders of the so-called Austrian school of political economy. His most important work, from a theoretical standpoint, is Grundsätze der Volkswirtschaftslehre (1871). Other important works of his are: Untersuchungen über die Methode der Sozialwissenschaften und der politischen Oekonomie inshesondere (1883); Die Irrtümer des Historismus in der deutschen Nationalökonomie (1884); and Beiträge zur Währungsfrage in Oesterreich-Ungarn (1892).