subscribe or login to access all content.
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
Print publication date: 1987 | Print ISBN-13: 9780198772866 |
Published to Oxford Scholarship Online: November 2003 | DOI:10.1093/0198772866.001.0001 |
subscribe or login to access all content.