Eugen von Böhm-Bawerk

Eugen von Böhm-Bawerk was an Austrian economist who lived from 1851 to 1914. He studied how economies grow and how people make choices. He developed an economic theory known as "marginal utility theory" which states that people make decisions based on how much satisfaction or benefit they get from a good or service. For example, if you are deciding between two different types of apples, you might choose the one that gives you the most enjoyment. He also was one of the first to point out the importance of saving money and investing in the future. He showed how even tiny investments today could lead to huge gains in the future.