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Ludwig von Mises's approach to capital as a bridge between Austrian and institutional economics


Ludwig von Mises seems to be something of an outlier within the Austrian school when it comes to capital – though his position is clearly foreshadowed in a neglected article by Carl Menger (1888). In this paper, we examine Mises's view on capital and suggest that it constitutes a bridge between Austrian and institutional economics. As an outflow of Mises's approach, an incipient financial approach may be discerned, an approach to capital that integrates concepts from financial theory into a broader view of capital that contains both institutional and Austrian elements.

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Journal of Institutional Economics
  • ISSN: 1744-1374
  • EISSN: 1744-1382
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