Eugen Von Böhm-Bawerk

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  Unmixing the Metaphors of Austrian Capital Theory

  A complement of metaphors inherited from the classical era has held back progress in Austrian capital theory (ACT). In particular, the attachment to circulating capital as the paradigmatic capital good, largely motivated by the business cycle theory, has locked ACT into a nonoperational point-output model of production. This paper draws . . .

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  Review: The Representational Theory of Capital

  The Representational Theory of Capital summarizes itself in its final sentence as “a call for the return of the old fiscal religion.” More than that, though, it is a return to the old-time Classical religion of early Austrian capital theory. While more recent capital theorists in the Austrian tradition—Friedrich Hayek, . . .