In a recent contribution to this journal Severino Fratini (2019) offers a critique of our work on Austrian Capital Theory on the grounds that our conception of capital and “roundaboutness”. In this comment we explain why we think this criticism is wrong

The ability to rationally evaluate time-consuming productive activities is what distinguishes capitalism from alternative social systems. Capital-accounting provides the framework for such evaluations that allow decision-makers to calculate the relative values to them of alternative productive...