Austrian Capital Theory - A Modern Survey of the Essentials

Presents a new framework for Austrian capital theory, starting from the notion that capital is value.

List 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.

Summary

Presents a new framework for Austrian capital theory, starting from the notion that capital is the value attributed by the valuer to the combination of production-goods and labor available for production. Incorporates the seminal contributions into the new framework in order to provide a more accessible perspective on Austrian capital theory.

Product details

• Authors: Nicholas Cachanosky, Nicolas Cachanosky, Peter Lewin, Peter (University of Texas Lewin, Peter (University of Texas Dallas) Cachanos Lewin
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Paperback / Softback
• Released: 31.01.2019
• EAN: 9781108735889
• ISBN: 978-1-108-73588-9
• No. of pages: 88
• Series: Elements in Austrian Economics; Elements in Austrian Economics
• Subjects: Social sciences, law, business > Business > Economics; Economics, BUSINESS & ECONOMICS / Economics / General