Der natürliche Werth.Vienna: A. Holder, 1889 Stock Code: 119107
NotesFirst edition of a classic of economics, in which the author attempts to apply marginal utility analysis to the determination of cost. Wieser (1851-1926) was one of the leading exponents of the Austrian, or "subjective", school of economics. Together with his fellow-student and brother-in-law Eugen von Böhm-Bawerk, he developed the ideas of Carl Menger and made the Austrian school of marginal utility widely known. In his first book, Über den Ursprung und die Hauptgesetze des wirtschaftlichen Werthes (1884), which already foreshadowed theories of the present work, Wieser introduced the term Grenznutzen (marginal utility). The book earned him a lectureship at the University of Vienna. "Here he continued to work on the same problems and also on what he regarded merely as a first step toward a theory of value that was to be fully developed in the present work. He employed the expository device of studying value in a centrally directed economy and suggested possible applications of utility theory to public finance. The book gained him almost immediate acclaim, and it was soon translated into English" (Frederich von Hayek in IESS).
Octavo. Original yellow wrappers printed in black.
Bookseller's ticket to verso of front cover and Japanese ownership stamp to title page. Rebacked with most of the original spine laid down (text of title all present), large chips to covers sympathetically repaired with new paper, though with slight loss to publisher's details on recto of front cover and advertisements on verso, closed tears on covers repaired on verso. Pages toned as usual, a few instances of faint foxing, tiny chips to pp. 231-236 not affecting text. A very good copy of this fragile volume, expertly restored.
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