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Author : Malte Michael Faber
Publisher : Springer
ISBN 13 : 9780387091211
Total Pages : 0 pages
Book Rating : 4.0/5 (912 download)
Download or read book Introduction to Modern Austrian Capital Theory written by Malte Michael Faber and published by Springer. This book was released on 1979 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Malte Faber
Publisher : Springer Science & Business Media
ISBN 13 : 3642483100
Total Pages : 205 pages
Book Rating : 4.6/5 (424 download)
Download or read book Introduction to Modern Austrian Capital Theory written by Malte Faber and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the fifties and the sixties the neoclassical concept of the production function was criticized in numerous papers. In particular, the aggregation of different capital goods into a single number was reprehended. A second essential disadvantage, namely the neglect of the time structure of the production process, found, however, rela tively little attention. While up to the thirties the Austrian capital theory which stressed the time aspect of production was an important school, it fell into oblivion after the great capital controversies of the thirties. It took over thirty years, i. e. till the beginning of the seventies be fore it came to a renaissance of the Austrian capital theory by var ious writers. We may roughly classify the different attempts of Hits rebirth in modern economics" into three groups: 1. The approach of ~ [1970, 1973, 1973a] has received most of the attention in the literature (Burmeister [1974], Faber [1975], Fehl [1975], ~[1975], Hagemann and ~ [1976]). It will be shown in Chapter 9 that ~ is only in so far a Neo-Austrian as he does explicitly take into consideration the vertical time structure of the production process. But he does not use the Austrian concepts of superiority of roundabout methods, of time preference and of the period of production. 2. The latter concept has been revived by the second group, to which Tintner [1970], von Weizs~cker [1971a, 1971b, 1974], ~ [1971, 1976 and ~ [1973, 1975, 1976] belong.
Author : Malte Faber
Publisher : Springer Science & Business Media
ISBN 13 : 3642517013
Total Pages : 321 pages
Book Rating : 4.6/5 (425 download)
Download or read book Studies in Austrian Capital Theory, Investment, and Time written by Malte Faber and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The neglect of time in general and of the time structure of production in particular in mainstream economics led to the rebirth of the Austrian tradition in the seventies. The names of BERNHCLZ, HICKS, KIRZNER and VON WEIZSACKER are representative of different approaches. In 1979 my "Introduction to Modern Austrian Capital Theory" appeared, in which I unified various papers BERNHOLZ and I had written. I also linked our approach to those of VON NEUMANN, of HICKS and of neoclassical capital theory. These "Studies" supplement and continue my "Introduction" in various ways. With all the authors of the present volume I have cooperated for several years. This volume is subdivided into five parts. The first one, Historical Perspectives, gives first an outline on the development of Austrian capital theory from its origins to the present. Next it relates Modern Austrian Capital Theory to SRAFFA's theory and to the Austrian subjectivists' pure time preference theory of interest. The latter theory is represented in its opposition to the traditional productivity-cum-time preference explanation of interest, which is. common t9 neoclassical and BOHM-BAWERKian capital theory alike. The Austrian subjectivist pure time preference theory has been misinterpreted in its recent presentation, which has led to misunderstandings. It is shown that there is no real contradiction between the two appoaches.
Author : Peter Lewin
Publisher : Cambridge University Press
ISBN 13 : 110875273X
Total Pages : 102 pages
Book Rating : 4.1/5 (87 download)
Download or read book Austrian Capital Theory written by Peter Lewin and published by Cambridge University Press. This book was released on 2019-01-10 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Element presents a new framework for Austrian capital theory, starting from the notion that capital is value. Capital is the value attributed by the valuer at any moment in time to the combination of production-goods and labor available for production. Capital is the result obtained by calculating the current value of a business-unit or business-project that employs resources over time. It is the result of a (subjective) entrepreneurial calculation process that relates the flow of consumptions goods to the value of the productive resources that will produce those consumptions goods. The entrepreneur is a ubiquitous calculating presence. In a review of the development of Austrian capital theory, by Carl Menger, Eugen von Böhm-Bawerk, Ludwig von Mises, Friedrich Hayek, Ludwig Lachmann as well as recent contributions, the Element incorporates the seminal contributions into the new framework in order to provide a more accessible perspective on Austrian capital theory.
Author : Gunter Stephan
Publisher : Springer Science & Business Media
ISBN 13 : 3662030810
Total Pages : 290 pages
Book Rating : 4.6/5 (62 download)
Download or read book Introduction into Capital Theory written by Gunter Stephan and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital theory is a cornerstone of modern economics. Its ideas are fundamental for dynamic equilibrium theory and its concepts are applied in many branches of economics like game theory, resource and environmental economics, although this may not be recognized on a first glance. In this monograph, an approach is presented, which allows to derive important results of capital theory in a coherent and readily accessible framework. A special emphasis is given on infinite horizon and overlapping generations economics. Irreversibility of time, or the failure of the market system appear in a different light if an infinite horizon framework is applied. To bridge the gap between pure and applied economic theory, the structure of our theoretical approach is integrated in a computable general equilibrium model.
Author : Pavel Potuzak
Publisher : Springer Nature
ISBN 13 : 3031187288
Total Pages : 155 pages
Book Rating : 4.0/5 (311 download)
Download or read book Austrian Theory of Capital and Business Cycle written by Pavel Potuzak and published by Springer Nature. This book was released on 2022-12-12 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores Austrian capital theory and Austrian business theory from the perspective of modern economics. Sustainable change within the production structure is examined in relation to time preference, the Böhm-Bawerkian theory of capital and interest, and the Hayek Triangle. In turn, the impact of monetary shocks and boom-bust cycles is detailed, with a particular focus on the Ricardo Effect, dynamics of money supply, and the natural rate of interest. This book aims to present a new framework for Austrian economics that will make these ideas applicable to both mainstream economic models and modern economists. It will be relevant to students and researchers interested in the history of economic thought and the political economy.
Author : Thomas C. Taylor
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164245
Total Pages : 100 pages
Book Rating : 4.6/5 (11 download)
Download or read book An Introduction to Austrian Economics written by Thomas C. Taylor and published by Ludwig von Mises Institute. This book was released on 1980 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gerald P O'Driscoll Jr
Publisher : Routledge
ISBN 13 : 1317691350
Total Pages : 469 pages
Book Rating : 4.3/5 (176 download)
Download or read book Austrian Economics Re-examined written by Gerald P O'Driscoll Jr and published by Routledge. This book was released on 2014-12-05 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally. The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before. Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory. The Open Access version of this book, available at https://www.taylorfrancis.com/books/oa-edit/10.4324/9781315776736, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.
Author : J. R. Hicks
Publisher : Clarendon Press
ISBN 13 : 0191521256
Total Pages : 228 pages
Book Rating : 4.1/5 (915 download)
Download or read book Capital and Time written by J. R. Hicks and published by Clarendon Press. This book was released on 1987-10-15 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. It is being reissued in paperback in recognition of the 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. Sir John overcomes this problem here by allowing for a sequence of outputs, and the consequences for dynamic economics are profound and novel.
Author : Peter Lewin
Publisher : Routledge
ISBN 13 : 1134756046
Total Pages : 266 pages
Book Rating : 4.1/5 (347 download)
Download or read book Capital in Disequilibrium written by Peter Lewin and published by Routledge. This book was released on 1998-12-17 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on the work of the Austrian School and its heirs, Capital in Disequilibrium develops a modern, systematic version of capital theory in order to suggest a new approach to the subject of economics. Original and provocative in his reflection, Lewin offers both a new approach and an accessible discussion of one of the most important, but also one of the most difficult, areas in economics.
Author : Rahim Taghizadegan
Publisher :
ISBN 13 : 9783902639332
Total Pages : 366 pages
Book Rating : 4.6/5 (393 download)
Download or read book Austrian School for Investors written by Rahim Taghizadegan and published by . This book was released on 2015-11-16 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insanity seems to rule the financial markets and many investors are driven by delusion and anxiety. May everything you thought you knew about investing be wrong? The Austrian School's approach provides the needed respite for investors caught in inflationary treadmills. Conventional investment experts often overlook economic developments which may become a hazard for mainstream investors. Instead, the Austrian School of Economics has proved itself as an independent approach beyond the interests of politicians and bankers. The financial system is shaking. This book presents new paths through the shaky grounds between the tectonic plates of inflation and deflation to both private and professional investors. "This book is a must-have for every responsible investor!" (Felix W. Zulauf, Investor) "I am grateful to the authors of this book for not only highlighting the fundamental principles of the Austrian School but also for showing how investors can make practical use of them. " (Dr. Marc Faber, Investor) "For the first time an extensive compendium has been published in which the theoretical foundations developed by the 'Austrians' have been made useful for the investor's practical needs. The authors develop a remarkable 'Austrian investment philosophy'." (Prof. Guido HUlsmann, University of Angers) "The Austrian School's perception helps us to see long-term patterns and opportunities that today are often hidden. [...] For the authors and their important work I hope for the widest possible audience of a bestseller." (Prince Philipp von und zu Liechtenstein, Chairman LGT Group)
Author : Eugen von Böhm-Bawerk
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610163648
Total Pages : 468 pages
Book Rating : 4.6/5 (11 download)
Download or read book The Positive Theory of Capital written by Eugen von Böhm-Bawerk and published by Ludwig von Mises Institute. This book was released on 1959 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Hicks
Publisher : Oxford University Press
ISBN 13 : 9780198281795
Total Pages : 232 pages
Book Rating : 4.2/5 (817 download)
Download or read book Capital and Time written by John Hicks and published by Oxford University Press. This book was released on 1973 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph presenting a modernization of the economic theory of the Austrian school which identified production as a process in time (time factor) and capital as a 'report' on the present state of that process - considers a model which defines functions of technology, full employment, etc., and examines the traverse from one steady state equilibrium to another during economic growth. Diagrams and references.
Author : Gerald P O'Driscoll Jnr
Publisher : Routledge
ISBN 13 : 1134808887
Total Pages : 389 pages
Book Rating : 4.1/5 (348 download)
Download or read book The Economics of Time and Ignorance written by Gerald P O'Driscoll Jnr and published by Routledge. This book was released on 2002-09-11 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Time and Ignorance is one of the seminal works in modern Austrian economics. Its treatment of historical time and of uncertainty helped set the agenda for the remarkable revival of work in the Austrian tradition which has led to an ever wider interest in the once heretical ideas of Austrian economics. It is here reprinted with a substantial new introductory essay, outlining the major developments in the area since its original publication a decade ago.
Author : Alexander H. Shand
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.:/5 (45 download)
Download or read book The Capitalist Alternative written by Alexander H. Shand and published by . This book was released on 1984 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ludwig M. Lachmann
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610165276
Total Pages : 148 pages
Book Rating : 4.6/5 (11 download)
Download or read book Capital and Its Structure written by Ludwig M. Lachmann and published by Ludwig von Mises Institute. This book was released on 1956 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pavel Potuzak
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Austrian Theory of Capital written by Pavel Potuzak and published by . This book was released on 2016 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces of the Austrian capital theory may be detected in the modern growth theory. Yet, it was not generally accepted as it contains many confusions and unsettled points. This paper tries to clarify some of the misunderstandings that are present in this theory. It clarifies the notion of roundaboutness, it describes in detail the reasons for a higher productivity of longer methods, and it examines why the Austrian authors put emphasis on the structure of production. A decrease in time preference is studied in detail, and new diagrammatical tools are introduced to pin down the dynamics of the economy.
