Essays on Capital and Interest – An Austrian Perspective Kirzner Hardback

Essays on Capital and InterestAn Austrian Perspective\nAuthor(s): Israel M. Kirzner\nFormat: Hardback\nPublisher: Edward Elgar Publishing Ltd, United Kingdom\nImprint: Edward Elgar Publishing Ltd\nISBN-13: 9781858984070, 978-1858984070\nSynopsis\nIn Essays on Capital and Interest, Israel Kirzner offers a consistently Austrianperspective on the problems of capital and interest theory. In the three classic essays featured in this book, Professor Kirzner argues that an Austrian approach based on the pure time preference theory offers an attractive alternative to both the orthodox neoclassical and the heterodox Sraffian approaches to economics. The author takes a subjectivist point of view with all capital and interest phenomena traced to individual multi-period plans. Capital is seen, in this perspective, not as an objective mass of tools and equipment, but as the interim state in which inter-locking multi-period plans have manifested themselves at a particular point. This consisten.