"The time period lying between command of goods of a higher order and possession of the corresponding goods of lower order can never be eliminated."
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p. 67; cited in: Randall G. Holcombe, Great Austrian Economists, p. 90
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Carl Menger
Carl Menger (February 23, 1840 – February 26, 1921) was an Austrian economist, known as founder of the . Menger contributed to the development of the theory of marginal utility, which contested the cost-of-production theories of value, developed by the classical economists such as Adam Smith and David Ricardo.
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