Details

Subject(s)

• Capital [Browse]
• Investments [Browse]
• Interest [Browse]

Related name

White, Lawrence H. (Lawrence Henry) [Browse]

Series

• Hayek, Friedrich A. von (Friedrich August), 1899-1992. Works. 1989 ; v. 12. [More in this series]
• The collected works of F. A. Hayek ; v. 12

Summary note

"The Pure Theory of Capital, F. A. Hayek's most detailed work in economic theory, has been long overlooked. First published in 1941, it stood in sharp contrast with fashionable economic thought, which had shifted under the influence of John Maynard Keynes. This edition commemorates Hayek's last major work in economics, which offers a detailed account of the equilibrium relationships between inputs and outputs in a time-filled economy. Hayek's stated objective was to make capital theory - which had previously been devoted almost entirely to the explanation of interest rates - "useful for the analysis of the monetary phenomena of the real world." His ambitious goal was nothing less than to develop a capital theory that could be fully integrated into business cycle theory. Hayek's manifesto of capital theory is now available again for today's students and economists to discover." "The new introduction by Hayek expert Lawrence H. White firmly situates the book in a historical and theoretical context, as well as within Hayek's own life and his struggle to complete the manuscript. It provides important insights into Hayek's theories, the intellectual environment in which he wrote, and the personal context of this important work."--BOOK JACKET.

Notes

• Originally published: London : Macmillan and Co., 1941.
• "Two more appendices that were not in the original have been added. The first is a one page comment by Hayek on an article by Professor Friedrich Lutz titled 'Professor Hayek's Theory of Interest.' Both the Lutz paper and Hayek's comment appeared in the November 1943 issue of the journal Economica. Appendix 5 contains a longer piece by Hayek, 'Time-Preference and Productivity: A Reconsideration,' that appeared in the February 1945 issue of Economica"--P. .

Bibliographic references

Includes bibliographical references (p. 405-411) and index.

ISBN

• 9780226320991 (cloth : alk. paper)
• 0226320995 (cloth : alk. paper)

LCCN

2006025441

OCLC

70877877

RCP

C - S

Statement on responsible collection description

Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage. Read more...