The Austrian School of Economics emerged after the publication in 1871 of a trilogy of works (by Jevons, Walras, and Menger) which introduced the idea of the subjective theory of value and began what has been called “the marginal…
As modern economics began to emerge in the late 18th century money and banks quickly became the focus of much attention. Of particular interest were questions about the proper role of government in the issuing of coins, the…