School of Thought: The Austrian School of Economics 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 revolution” in economic
thought. Leading theorists in the 20th century were Ludwig von
Mises, Friedrich Hayek, Murray Rothbard, and Israel Kirzner. For
more information see: 26 People in this Group: