By F. A. Hayek
This quantity bargains an in depth account of the equilibrium relationships among inputs and outputs in a time-filled financial system. Hayek's acknowledged aim was once to make capital theory—which had formerly been dedicated virtually solely to the reason of curiosity rates—"useful for the research of the financial phenomena of the genuine world." His formidable objective used to be not anything below to increase a capital thought that may be absolutely built-in into enterprise cycle idea. Hayek's manifesto of captial conception is now on hand back for latest scholars and economists to discover.
The advent, via Hayek professional Lawrence H. White, firmly situates the ebook in a ancient and theoretical context, in addition to inside of Hayek's personal existence and his fight to accomplish the manuscript. It offers vital insights into Hayek's theories, the highbrow surroundings within which he wrote, and the non-public context of this crucial work.
F. A. Hayek (1899–1992) was once provided the Nobel Memorial Prize in monetary Sciences in 1974 and the Presidential Medal of Freedom in 1991. He was once one of many top Austrian economists and political philosophers of the 20 th century.
Lawrence H. White is Professor of Economics at George Mason University.
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