This critique of Malinvaud’s article of 2003 on Wicksell’s legacy to capital theory focuses in particular on three … points raised there. The first regards the given amount of existing capital that appears in Wicksell’s theory and its … connection with his alleged “missing equation”, the second the particular notion of the marginal product of capital adopted by …

Marshall's theory of capital was designed to serve two main purposes: an integration of the theory of income … purpose, capital was considered the reward for the services of a specific factor of production; for the second, a generic … of capital were clearly inconsistent with each other. The final setting of the Marshallian system was characterized by …

von Thunen and Wicksell, how the CES production function was formulated, how the elasticity of substitution was made a … the 'capital controversy' and its impacts …

Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and … paper investigates whether the negative natural rate of interest may be found in Wicksell. It also examines in what extent …

decades normally treated capital as a single magnitude, were in fact compelled to do so: the fact that only this treatment … treatment would have made it impossible to include capital among the data of the theory and at the same time to determine a … “normal position” of the economic system. As is well known, the notion of capital as a single magnitude has been shown to be …