Zásady ekonomie (2026)

Principles of Economics is one of the founding texts of modern economics and the Austrian School of economics. Carl Menger systematically develops theories of goods, value, exchange, prices and money. His analysis begins with the relationship between human needs and the means of satisfying them: the value of goods does not arise in production, but reflects the importance people assign to individual goods in meeting their needs. The text gradually explains the difference between free and economic goods, the significance of higher-order goods, the time structure of production, the subjective theory of value, the conditions of exchange, price formation in various market situations and the origins of money. Menger’s work is important not only as a historical milestone, but also as a methodological foundation for economics understood as the analysis of human action, decision-making and market institutions. The book is intended for readers interested in the history of economic thought, the theory of value, the Austrian School of economics and the foundations of modern microeconomics. The contents are in Czech.