What is the background of the Austrian School of Economics, and what are the main ideas of the Austr

The theoretical core of the Austrian school of economics is the subjective axiology, that is, the marginal utility axiology. Different from the "utility axiology" of Say et al., the marginal utility axiology holds that in order for a thing to be valuable, in addition to being useful, it must also be "scarce", that is, limited in quantity.

As a result, its gains and losses become indispensable conditions for the happiness or pain of the owner.

The Austrian school of economics has different theories of distribution, Menger believes that the income from labor, capital, and land is the remuneration for the utility they each provide; Wiesel regarded them as a question of "attribution" of the value of each component of the financial value; Bohm Bavik explained it in terms of the "time difference interest theory" in which the marginal utility of goods in the present is valued higher than that of goods in the future.

The marginal utility theory of value and the theory of distribution of the Austrian school of economics are in direct opposition to Marx's labor theory of value and surplus value. Its main arguments are: value is subjective, is the importance of things to the satisfaction of people's desires; The cause of value is utility plus scarcity; The magnitude of the quantity of value also depends only on the magnitude of marginal utility, and has nothing to do with socially necessary labour; Value arises in the field of consumption, not the transfer of the value of the means of production to its products, but the value of the products that gives value to the means of production; The income from capital and land, either as remuneration for the utility provided by each, or from the different valuations of present and future goods, has nothing to do with the exploitation of labour.

In short, the Austrian School completely obliterated the decisive role of labour in value creation.

Main arguments: 1. Value is subjective, and it is the importance of things to the satisfaction of people's desires;

2. The cause of value is utility plus scarcity;

3. The magnitude of the quantity of value depends only on the magnitude of marginal utility, and has nothing to do with socially necessary labor;

4. Value arises in the field of consumption, not the means of production transferring their value to their products, on the contrary, the lack of annihilation is the value of the product giving value to the means of production;

5. The income from the capital and the land is either the remuneration for the utility provided by each of them, or it arises from the different valuations of present and future goods, and has nothing to do with the exploitation of labor.

The Austrian School's academic stance and Marxist economics are absolutely incompatible.

The Austrian school represents the economic interests of the big bourgeoisie, while Marxist economics represents the economic interests of the working people. The position is different, so the point of view is completely different.

Marxist economics adheres to the labor theory of value, while the Austrian school insists on the utility theory of value. Marxist economics explains the surplus valence, while the Austrian school says the role of entrepreneurs. Marxist economic theory adheres to the principle of collectivism, and the Austrian school insists on the supremacy of individualism.

The Austrian School of Economics is one of the most important schools of thought in modern marginal utility. It was produced in the 70s of the 19th century and became popular at the end of the 19th century and the beginning of the 20th century. Because its founder Menger and his successors Wiesel and Pombavik are all Austrians, both professors at the University of Vienna, and they all use marginal utility of personal consumption psychology to establish their theoretical system, so they are also called the Vienna School or the School of Psychology.

The Chicago School (Chicago School) is the earliest architectural school in the United States and is the founder of modern architecture in the United States. The Chicago School highlights the main position of function in architectural design, clearly puts forward the view that form obeys function, strives to get rid of the fetters of eclecticism, and strives to get rid of the fetters of eclecticism, the application of new technologies in high-rise buildings, emphasizing that architectural art should reflect the characteristics of new technologies, and advocating simple facades to conform to the spirit of industrialization of the times. The Chicago School's heyday was between 1883 and 1893, and its important contribution to architectural styling was the creation of the "Chicago window," a large glass opening throughout the room, to create a unique style of simplicity on the façade.

An important contribution to engineering technology was the creation of high-rise metal frame structures and box-shaped foundations.

Carl Menger (1840-1921) was the founder of the Austrian school of economics. Menger was born in 1840 in Niuyisandiz, Galicia (then part of Austria and now part of Poland). Menger inherited his father's mantle, a lawyer, first at the University of Vienna and then at the University of Prague to study law and political science.

In 1867 he received a doctorate in law from the University of Krakow. After graduating, Menger worked as a financial journalist and later in the press service of the Austrian Chancellor's Office. In 1873 he was appointed lecturer at the Faculty of Law at the University of Vienna and three years later was promoted to full-time professor.

From 1876 to 1878, he served as the personal tutor of the Austrian Crown Prince, accompanying Crown Prince Rudolf throughout Europe. In 1879, Menger returned to the University of Vienna as professor of political economy, and from then on began a career as a pedantic economist – devoting his life to teaching and writing. In 1900, he was elected to the upper house of the Austrian Parliament.

After his retirement in 1903, he engaged in research and writing, leaving behind a collection of more than 25,000 volumes.