History
The concept of marginal utility grew out of attempts by economists to explain the determination of price. The term “marginal utility”, credited to the Austrian economist Friedrich von Wieser by Alfred Marshall, was a translation of Wieser's term “Grenznutzen” (border-use).
Read more about this topic: Marginal Utility
Famous quotes containing the word history:
“If man is reduced to being nothing but a character in history, he has no other choice but to subside into the sound and fury of a completely irrational history or to endow history with the form of human reason.”
—Albert Camus (1913–1960)
“There is no history of how bad became better.”
—Henry David Thoreau (1817–1862)
“We aspire to be something more than stupid and timid chattels, pretending to read history and our Bibles, but desecrating every house and every day we breathe in.”
—Henry David Thoreau (1817–1862)