Natural Value. Edited with a Preface and Analysis By William Smart. The translation by Christian A. Malloch.

£700 · Offered by Maggs Bros Ltd

Originally published in 1889, one of Wieser’s most important early works, further outlining his theories of marginal utility, alternative cost and imputation as initially expressed in his first book, Über den Ursprung und die Hauptgesetze des wirtschaftlichen Werthes (1884). In Natural Value , Wieser “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” (Friederich von Hayek in IESS).

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