Menger advanced his theory that the marginal utility of goods, rather than labor inputs, is the source of their value.

Menger asserted that such perfect knowledge never exists, and that therefore all economic activity implies risk.

According to neoclassical economists the labour theory of value could not explain fluctuating values for different kinds of labour, nor did it explain how found goods could be more valuable than extracted goods.

Although Menger accepted the marginal utility theory, he made deviations from the work of other neoclassical pioneers.

Ludwig von Mises called the book the best introduction to the Austrian School of economics.