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Österreichische Schule der Nationalökonomie#

School of Economics, Austrian (Oesterreichische Schule der Nationaloekonomie), founded by K. von Menger, body of liberal economic theory which originated mainly at the University of Vienna. Many theories were only developed in detail by Menger's students (e.g. Marginal Utility Theory by F. von Wieser, business-cycle theory by L. von Mises). The school enjoyed great international renown.