Chapter 1: Introduction -- Chapter 2: Waiting as a Factor and Interest as Its Price -- Chapter 3: Capital Goods, Intermediate Goods, and Land -- Chapter 4: Advantages of the Recommended View of Waiting -- Chapter 5: Responses to the Interest Rate -- Chapter 6: Time Preference and the...

Before economists and sociologists came up with their own definitions of the term "capital", it was commonly understood as money invested in businesses by their owners or shareholders, and it continues to be understood this way in everyday business practice. In a recent article, Geoffrey Hodgson...