Grundlagen der Ökonomie: Das Wesentliche von Carl Menger

This book includes one of Carl Menger's most important essays on the topics of money, price, and value. "On the Origins of Money" is a discussion of the history of money and currency, from its rudimentary forms such as cowrie shells, animal skins, and salt in early societies to coins and the reasons why gold became dominant. Instead of focusing on the type or form of money, Menger examines the reasons for money exchange and why money is so valuable (or where it derives its value). His argument centers on the "marketability" of traded goods – in other words, the more "marketable" (or valuable or in demand) an item is, the more money it is worth. This short work provides an insightful look into the history and value of money. Carl Menger (1840 – 1921) is one of the founding figures of the Austrian School of Economics, a school of thought that uniquely analyzes the problems of today’s monetary system and defines logical foundations for a healthy monetary system. Menger made breakthroughs in the understanding of marginal utility as well as value and price theory. With his foundational work, Menger paved the way for later figures like Ludwig von Mises and Friedrich A. Hayek, who deepened and refined his ideas. Through the series Foundations of Economics, Aprycot Media aims to foster understanding of the foundation upon which Bitcoin was developed. The Austrian School of Economics provides us with a logical framework to better understand economics, monetary systems, and human action.