The Pure Theory of Capital (Paperback)

F. A. Hayek s long-overlooked 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 "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.

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