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Menger von Wolfensgrün, Karl
© Copyright Karl Menger von Wolfensgrün, photo Menger von Wolfensgrün, Karl von, b. Nowy Sacz, Poland (then Neu-Sandez), Feb. 23, 1840, d. Vienna, Feb. 26, 1921, political economist, brother of Anton Menger von Wolfensgrün and Max Menger von Wolfensgrün, father of Karl Menger. Studied law in Prague, Vienna and Kraków, from 1867 several years in the press agency of the Crown Council presidency in Vienna, from 1876 tutor to Crown Prince Rudolf. From 1873 professor of political economy at the University of Vienna. Gained particular merit as member of the monetary inquest committee in 1892 which introduced the gold standard in Austria-Hungary. Became life-member of the Upper Chamber of the Reichsrat for life in 1900. Considered founder of the (Marginal Utility Theory and the father of the School of Economics, Austrian. Publications: Grundsätze der Volkswirtschaftslehre, 1871; Der Übergang zur Goldwährung, 1883. - Edition: The Collected Works, ed. by F. A. Hayek, 4 vols., 1933-1936 (German 1968-1970). Literature: ÖBL; NDB.
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