Austrian Capital Theory
A Modern Survey of the Essentials
$22.00 (R)
Part of Elements in Austrian Economics
- Authors:
- Peter Lewin, University of Texas, Dallas
- Nicolas Cachanosky, Metropolitan State University of Denver
- Date Published: January 2019
- availability: Available
- format: Paperback
- isbn: 9781108735889
$
22.00
(R)
Paperback
Other available formats:
eBook
Looking for an examination copy?
If you are interested in the title for your course we can consider offering an examination copy. To register your interest please contact collegesales@cambridge.org providing details of the course you are teaching.
-
This Element presents a new framework for Austrian capital theory, starting from the notion that capital is value. Capital is the value attributed by the valuer at any moment in time to the combination of production-goods and labor available for production. Capital is the result obtained by calculating the current value of a business-unit or business-project that employs resources over time. It is the result of a (subjective) entrepreneurial calculation process that relates the flow of consumptions goods to the value of the productive resources that will produce those consumptions goods. The entrepreneur is a ubiquitous calculating presence. In a review of the development of Austrian capital theory, by Carl Menger, Eugen von Böhm-Bawerk, Ludwig von Mises, Friedrich Hayek, Ludwig Lachmann as well as recent contributions, the Element incorporates the seminal contributions into the new framework in order to provide a more accessible perspective on Austrian capital theory.
Customer reviews
Not yet reviewed
Be the first to review
Review was not posted due to profanity
×Product details
- Date Published: January 2019
- format: Paperback
- isbn: 9781108735889
- length: 88 pages
- dimensions: 230 x 150 x 5 mm
- weight: 0.16kg
- contains: 5 b/w illus. 7 tables
- availability: Available
Table of Contents
1. Introduction and background
2. Carl Menger and the structure of production
3. Böhm-Bawerk's labor arithmetic
4. Austrian capital theory (ACT) and Austrian business cycle theory (ABCT)
5. Hayek's capital theory
6. Ludwig Lachmann's kaleidic world of capital heterogeneity
7. Ludwig von Mises's 'capital from a financial perspective'
8. Capital in the aggregate production function
9. Capital in a simple financial framework
10. Conclusion – the entrepreneur adds value by capitalizing resources.
Sorry, this resource is locked
Please register or sign in to request access. If you are having problems accessing these resources please email lecturers@cambridge.org
Register Sign in» Proceed
You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.
Continue ×Are you sure you want to delete your account?
This cannot be undone.
Thank you for your feedback which will help us improve our service.
If you requested a response, we will make sure to get back to you shortly.
×