Austrian school
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
A tradition of economic thought originating in the work of Carl Menger (1840-1921), who was Professor of Economics at Vienna until 1903. He was succeeded in the Chair by Von Wieser (1851-1926) and Bohm-Bawejk (1851-1914). Menger’s principal achievement was the construction of a marginal utility theory of value. His work was developed by Von Wieser, who, in addition, clearly. formulated the important concept of opportunity cost. Bohm-Bawerk’s main contributions were in the fields of capital and interest rate theory. The Austrian tradition was followed in the work of Von Mises and F. A. Hayek, and, later, in work by J. R. Hicks.
Reference: The Penguin Dictionary of Economics, 3rd edt.
More definitions
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >