Economic Theories
From his book Der Wert Natürliche (Natural Value), published in Vienna in 1889, are extracted two of Wieser's three relevant theories, his Value Theory and the Imputation Theory, although both had had their geneses in previous studies. Adding to his contribution was also the theory originally known as the Alternative Cost Theory (now called the Opportunity Cost Theory), which was published in 1914 in gesellschaftliche Theorie der Wirtschaft (Theory of Social Economy). Finally, also worth mentioning is his monetary theory.
Read more about this topic: Friedrich Von Wieser
Famous quotes containing the words economic and/or theories:
“According to our social pyramid, all men who feel displaced racially, culturally, and/or because of economic hardships will turn on those whom they feel they can order and humiliate, usually women, children, and animals—just as they have been ordered and humiliated by those privileged few who are in power. However, this definition does not explain why there are privileged men who behave this way toward women.”
—Ana Castillo (b. 1953)
“The two most far-reaching critical theories at the beginning of the latest phase of industrial society were those of Marx and Freud. Marx showed the moving powers and the conflicts in the social-historical process. Freud aimed at the critical uncovering of the inner conflicts. Both worked for the liberation of man, even though Marx’s concept was more comprehensive and less time-bound than Freud’s.”
—Erich Fromm (1900–1980)