What was Böhm-Bawerk's contribution?

0:00What about von Boehm-Bawerk? What von Boehm-Bawerk did was he developed this outline, which Menger contributed, in particular he developed the value theory, he developed the value of price theory, very important to his famous marginal payers, the horses, you know about the horses, the first horse and the second horse and all that, he developed the law of diminishing marginal utility brilliantly, and of course developed the entire capital interest theory. He was the one who rescued capital interest theory from neglect. And as I said, it was always considered that von Boehm-Bawerk was the main line mangerian. In the last ten years or so, when von Boehm-Bawerk has been deprecated by Los Manians and other people, they say, no, von Boehm-Bawerk is sort of evil Riccardian. Menger was the only true Austrian. That's the current fantasy which has been developed. I don't think anybody before that ever thought that, including Menger or von Boehm-Bawerk.