YAL in Action
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Tag: Happy Thanksgiving
Gary North’s article on today’s LRC reminds us that the Theory of Marginal Utility, developed by Austrian Economist Carl Menger, was one of many objective contributions by the school to general economic theory. Before you sit down for Thanksgiving dinner, it’s prudent to remember Menger’s theory. You will derive less “utility,” (enjoyment) from each additional serving of delicious turkey, …