On February 26, 1921, Carl Menger, the founder of the Austrian School of Economics, died in Vienna.
Menger studied at the universities of Vienna, Prague and Krakow and received his doctorate in law in 1867. Based on his considerations on price formation, he came to theoretical insights, which he published in 1871 in his outstanding work “Principles of Economics”. In 1872 Carl Menger received his habilitation at the University of Vienna - in 1873 he was appointed associate professor and in 1879 full professor of economics.
The University of Vienna honored him with an entry on the honor board of the Faculty of Law and State, the awarding of an honorary doctorate, the installation of a monument in the arcaded courtyard of the main university building and the naming of a “Gates of Remembrance” on the campus of the University of Vienna after him and his son Karl Menger.
