2,793 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.
Money makes goods comparable in accounts—but does it measure value as a ruler measures length? In this French article, published under the name Charles Menger, Carl Menger argues that monetary calculation presupposes prices rather than establishing them through a common substance called value. His attention to offered and demanded prices, differing household purchases, and the causes behind price movements gives this conceptual dispute practical force. Cheaper clothing may offset dearer bread in a household budget without proving that money itself is stable. Readers can discover why comparing purchasing power and identifying monetary causes are distinct tasks—and why, for Menger, stabilizing money need not mean freezing every price.