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The Pure Theory of Capital : Pure Theory of Capital.
Title:
The Pure Theory of Capital : Pure Theory of Capital.
Author:
Hayek, F. A.
ISBN:
9780226321295
Personal Author:
Physical Description:
1 online resource (475 pages)
Series:
The Collected Works of F. A. Hayek ; v.12

The Collected Works of F. A. Hayek
Contents:
CONTENTS -- EDITORIAL FOREWORD -- EDITOR'S ACKNOWLEDGEMENTS -- EDITOR'S INTRODUCTION -- F. A. HAYEK The Pure Theory of Capital PREFACE -- CONTENTS -- ANALYTICAL TABLE OF CONTENTS -- INTRODUCTORY -- THE SCOPE OF THE INQUIRY -- EQUILIBRIUM ANALYSIS AND THE CAPITAL PROBLEM -- THE SIGNIFICANCE OF ANALYSIS IN REAL TERMS -- THE RELATION OF THIS STUDY TO THE CURRENT THEORIES OF CAPITAL -- THE NATURE OF THE CAPITAL PROBLEM1 -- THE DURATION OF THE PROCESS OF PRODUCTION AND THE DURABILITY OF GOODS: SOME DEFINITIONS -- CAPITAL AND THE ' SUBSISTENCE FUND' -- INVESTMENT IN A SIMPLE ECONOMY -- THE OUTPUT FUNCTION AND THE INPUT FUNCTION -- THE CONTINUOUS PROCESS OF PRODUCTION -- THE POSITION OF DURABLE GOODS IN THE INVESTMENT STRUCTURE -- THE PRODUCTIVITY OF INVESTMENT -- PLANNING FOR A CONSTANT OUTPUT STREAM -- COMPOUND INTEREST AND THE INSTANTANEOUS RATE OF INTEREST -- THE MARGINAL PRODUCTIVITY OF INVESTMENT AND THE RATE OF INTEREST -- INPUT, OUTPUT, AND THE STOCK OF CAPITAL IN VALUE TERMS1 -- THE MARGINAL VALUE PRODUCT OF INVESTMENT: THE PROBLEM OF ATTRIBUTION ( IMPUTATION) -- TIME PREFERENCE AND ITS EFFECTS WITH CONSTANT RETURNS ON INVESTMENT1 -- TIME PREFERENCE AND PRODUCTIVITY: THEIR RELATIVE IMPORTANCE -- CAPITALISTIC PRODUCTION IN A COMPETITIVE COMMUNITY -- THE GENERAL CONDITIONS OF EQUILIBRIUM -- THE ACCUMULATION OF CAPITAL -- THE EFFECT OF THE ACCUMULATION OF CAPITAL ON THE QUANTITIES PRODUCED AND ON RELATIVE PRICES OF DIFFERENT COMMODITIES -- THE ADJUSTMENT OF THE CAPITAL STRUCTURE TO FORESEEN CHANGES -- THE EFFECTS OF UNFORESEEN CHANGES AND IN PARTICULAR OF INVENTIONS -- THE MOBILITY OF CAPITAL -- ' SAVING', ' INVESTMENT', AND THE ' CONSUMPTION OF CAPITAL' -- THE RATE OF INTEREST IN A MONEY ECONOMY -- FACTORS AFFECTING THE RATE OF INTEREST IN THE SHORT RUN -- LONG-RUN FORCES AFFECTING THE RATE OF INTEREST.

DIFFERENCES BETWEEN INTEREST RATES: CONCLUSIONS AND OUTLOOK -- APPENDIX I Time Preference and Productivity -- APPENDIX II The ' Conversion of Circulating Capital Into Fixed Capital' -- APPENDIX III ' Demand for Commodities Is Not Demand for Labour' -- The Doctrine of ' Derived Demand' -- APPENDIX IV A Comment1 -- APPENDIX V Time-Preference and Productivity: A Reconsideration1 -- INDEX OF DEFINITIONS OF SOME TECHNICAL TERMS -- BIBLIOGRAPHY -- INDEX.
Abstract:
The Pure Theory of Capital, F. A. Hayek's long-overlooked, little-understood volume, was his most detailed work in economic theory. Originally published in 1941 when fashionable economic thought had shifted to John Maynard Keynes, Hayek's manifesto of capital theory is now available again for today's students and economists to discover.With a new introduction by Hayek expert Lawrence H. White, who firmly situates the book not only in historical and theoretical context but within Hayek's own life and his struggle to complete the manuscript, this edition commemorates the celebrated scholar's last major work in economics. Offering a detailed account of the equilibrium relationships between inputs and outputs in an 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 the business cycle theory.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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