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Capital and Time – A Neo-Austrian Theory - Oxford Scholarship Online
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Capital and Time: A Neo-Austrian Theory

J. R. Hicks


This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. There has been some recent renewed interest in this approach. The ‘Austrian’ theory of capital concentrates on the inputs and outputs in the productive process, and has an advantage over more modern theories of economic dynamics in that it is more naturally expressible in economic terms: the production process over time is taken as a whole, rather than disintegrated. However, this approach had been largely abandoned because it seemed to be unable to deal with fixed capital. The book ove ... More

Keywords: Austrian theory, theory of capital, production process, inputs and outputs, fixed capital, sequence of outputs, dynamic economics

Bibliographic Information

Print publication date: 1987 Print ISBN-13: 9780198772866
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0198772866.001.0001


Affiliations are at time of print publication.

J. R. Hicks, author
Oxford University