Carl Menger

Carl Menger (1840–1921) was an Austrian economist and the founder of the Austrian School of economics. He worked as a journalist in Lemberg and Vienna before publishing Principles of Economics (1871), which grounded economic value in individual subjective judgment. He habilitated in political economy at the University of Vienna in 1872 and was made associate professor the following year. He lost four siblings and his father in childhood, and by his death had assembled a personal library of 25,000 volumes.