Friedrich von Wieser

Friedrich von Wieser (1851–1926) was an Austrian economist who studied law at the University of Vienna before reading Carl Menger’s Principles of Economics, which redirected him toward economics. He habilitated in 1884 with Über den Ursprung und die Hauptgesetze des wirthschaftlichen Werthes, introducing the term “marginal utility” into the discipline. He succeeded Menger’s generation as a leading figure of the Austrian School, taught at the University of Vienna until his death, and drew Friedrich Hayek to economics through his own writing.