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Essays on Capital and Interest - An Austrian Perspective

Name: Essays on Capital and Interest - An Austrian Perspective
Brand: Edward Elgar Publishing Ltd
SKU: 05118422
Price: 124.43 EUR
Availability: InStock
Author: Israel M. Kirzner
ISBN: 9781858984070

Israel M. Kirzner

Jezik

Angleščina

Knjiga Trda

Koda Libristo: 05118422

Založba Edward Elgar Publishing Ltd, oktober 1996

This essays in this volume present an Austrian approach to the problems of capital and interest theo... Celoten opis

Koda Libristo: 05118422

303 b

124.43 €

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This essays in this volume present an Austrian approach to the problems of capital and interest theory. This approach, based on the pure time preference theory, is seen as offering an alternative to both the orthodox neoclassical and the heterodox Sraffian approaches to economics. A subjectivist view is taken, with all capital and interest phenomena traced to individual multiperiod plans. Capital is seen not as an objective mass of tools and equipment, but as the interim state in which inter-locking multiperiod plans have manifested themselves at a particular point. The aim of such an approach is to present pure time (Fetter-Mises) preference theory of interest in understandable terms.