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| [[File:Murray rothbard.png|thumb|Murray Rothbard, one of the most famous members of the Austrian school]] | | #REDIRECT [[Austrian economics]] |
| The '''Austrian school of economics''' is a hyper-individualist, bourgeois and crypto-fascist school of economics that advocates for unchecked and unregulated capitalism and an [[Anarcho-capitalism|anarcho-capitalist]] society.
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| == Theory of marginal utility ==
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| The Austrian school disregards the mathematical proofs of the [[Labor theory of value|Labor Theory of Value]] presented in volume one of Capital in order to present the alternate theory of "marginal utility". According to this theory, the value of a commodity originates from the least important need it fulfills, and profit originates from the difference in value between "present" goods and "future" goods <ref>{{Citation|last=Bukharin|first=Nikolai|year=1919|title=Economic Theory of the Leisure Class|title-url=https://www.marxists.org/archive/bukharin/works/1927/leisure-economics/|chapter=The Theory of Profit}}</ref>. Nikolai Bukharin's work ''Economic Theory of the Leisure Class'' is an extended criticism and debunking of marginal utility, and therefore the Austrian school as a whole.
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