On the Austrian Contribution to Capital Theory

Abstract

Members of the Austrian school held particular views on capital. In this essay the development of Austrian theorising on capital is assessed and contrasted with what has been presented as the Neoclassical view. So far as this subject is concerned it was Böhm‐Bawerk, among the older members of the Austrian school, who became widely known as the main contributor (partly because some of his work was translated early).