The logic of this paper is based on a modernisation of Austrian capital theory as applied to a closed economy growing in a steady state. Here the philosophy is this: capital is time embodied in produced goods. In steady states, this philosophy works well as an aggregation device for an arbitrary...

Privates Vermögen und Schulden des Staats -- Der natürliche Zins und der optimale Zins im Steady State -- Vermögen und Vermögenswunsch -- Realkapital -- Boden -- Staatsschulden -- Investition, Ersparnis und Stagnation aus keynesianischer Sicht -- Abschließende Bemerkungen zum negativen...

The logic of this paper is based on a modernisation of Austrian capital theory as applied to a closed economy growing in a steady state. Here the philosophy is this: capital is time embodied in produced goods. In steady states, this philosophy works well as an aggregation device for an arbitrary...

The logic of this paper is based on a modernization of Austrian capital theory as applied to a closed economy growing in a steady state. Here the philosophy is this: capital is time embodied in produced goods. In steady states, this philosophy works well as an aggregation device for an arbitrary...