Was Menger's marginal utility theory completely new?
While others had touched upon diminishing utility, my contribution was to systematically develop it as the *foundation* of value. Previous schools often relied on objective measures like labor input. I demonstrated how value is derived from the subjective satisfaction of wants, specifically at the margin. This was a crucial shift in economic thought, providing a more accurate and individualistic explanation for how prices and economic choices are formed, and I presented it in my *Principles of Economics*.
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