Principles of Economics
Carl Menger
- Introduction by F.A. Hayek
- Translator's Preface
- Author's Preface
I. The General Theory of the Good
- 1. The Nature of Goods
- 2. The Causal Connections Between Goods
- 3. The Laws Governing Goods-character
- A. The Goods-Character of Goods of Higher Order is Dependent on Command of Corresponding Complementary Goods
- B. The Goods-Character of Goods of Higher Order is Derived From That of The Corresponding Goods of Lower Order
- 4. Time and Error
- 5. The Causes of Progress in Human Welfare
- 6. Property
II. Economy and Economic Goods
- 1. Human Requirements
- A. Requirements for Goods of First Order (Consumption Goods)
- B. Requirements for Goods of Higher Order (Means of Production)
- C. The Time Limits Within Which Human Needs Are Felt
- 2. The Available Quantities
- 3. The Origin of Human Economy and Economic Goods
- A. Economic Goods
- B. Non-Economic Goods
- C. The Relationship Between Economic and Non-Economic Goods
- D. The Laws Governing the Economic Character of Goods
- 4. Wealth
III. The Theory of Value
- 1. The Nature and Origin of Value
- 2. The Original Measure of Value
- A. Differences in the Magnitude of Importance of Different Satisfactions (Subjective Factor)
- B. The Dependence of Separate Satisfactions on Particular Goods (Objective Factor)
- C. The Influence of Differences in the Quality of Goods on Their Value
- D. The Subjective Character of the Measure of Value. Labor and Value.
- 3. The laws Governing the Value of Goods of Higher Order
- A. The Principle Determining the Value of Goods of Higher Order
- B. The Productivity of Capital
- C. The Value of Complementary Quantitites of Goods of Higher Order
- D. The Value of Individual Goods of Higher Order
- E. The Value of the Services of Land, Capital, and Labor in Particular
IV. The Theory of Exchange
- 1. The Foundations of Economic Exchange
- 2. The Limits of Economic Exchange
V. The Theory of Price
- 1. Price Formation in an Isolated Exchange
- 2. Price Formation under Monopoly
- A. Price Formation and the Distribution of Goods When There is Competition Between Several Persons for a Single Indivisible Monopolized Goods
- B. Price Formation and the Distribution of Goods When There is Competition for Several Units of a Monopolized Goods
- C. The Influence of the Price Fixed by a Monopolist on the Quantity of a Monopolized Good that Can be Sold and on the Distribution of the Good Among the Competitiors for It
- D. The Principles of Monopoly Trading (The Policy of a Monopolist)
- 3. Price Formation and the Distribution of Goods under Bilateral Competition
- A. The Origin of Competition
- B. The Effect of the Quantities of a Commodity Supplies by Competitors on Price Formation; the Effect of Given Prices Set By Them on Sales; and in Both Cases the Effect on the Distribution of the Commodity Among the Competing Buyers
- C. The Effect of Competition in the Supply of a Good on the Quantity Sold and on the Price at Which It is Offered (The Policies of Competitors)
VI. Use Value and Exchange Value
- A. The Nature of Use Value and Exchange Value
- B. The Relationship Between the Use Value and the Exchange Value of Goods
- C. Changes in the Economic Center of Gravity of the Value of Goods
VII. The Theory of the Commodity
- 1. The Concept of the Commodity in its Popular and Scientific Meanings
- 2. The Marketability of Commodities
- A. The Outer Limits of the Marketability of Commodities
- B. The Different Degrees of Marketability of Commodities
- C. The Facility with which Commodities Circulate
VIII. The Theory of Money
- 1. The Nature and Origin of Money
- 2. The Kinds of Money Appropriate to Particular Peoples and to Particular Historical Periods
- 3. Money as a "Measure of Price" and as the most Economic Form for Storing Exchangeable Wealth
- 4. Coinage
Appendices
- A. Goods and "Relationships"
- B. Wealth
- C. The Nature of Value
- D. The Measure of Value
- E. The Concept of Capital
- F. Equivalence in Exchange
- G. Use Value and Exchange Value
- H. The Commodity Concept
- I. Designations for Money
- J. History of Theories of the Origin of Money
Index