The dominant model of exchange between economists and our cousins in the other social sciences is export. We seldom learn or even try to learn from our compatriots. We peddle our analysis (of everything from the virtuous to the profane), our methods (too often borrowed from the natural sciences)...

Traces of the Austrian capital theory may be detected in the modern growth theory. Yet, it was not generally accepted as it contains many confusions and unsettled points. This paper tries to clarify some of the misunderstandings that are present in this theory. It clarifies the notion of...

This paper uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. The paper also discusses the Austrian literature's epistemological approach to...

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...

A complement of metaphors inherited from the classical era has held back progress in Austrian capital theory (ACT). In particular, the attachment to circulating capital as the paradigmatic capital good, largely motivated by the business cycle theory, has locked ACT into a nonoperational...

I: Austrian Capital Theory and the von Neumann-Model -- 1. Introduction -- 2. The Austrian Theory of Interest -- 3. The von Neumann-Model and its Relations to Austrian Capital and Interest Theory -- II: Modern Austrian Capital Theory -- 4. A Two-Period Two-Sector Neo-Austrian Model -- 5. A...

Summary of the Papers -- 1. On the Development of Austrian Capital Theory -- 2. Relationships between Modern Austrian and Sraffa’s Capital Theory -- 3. Austrians Versus Austrians I: A Subjectivist View of Interest -- 4. Austrians Versus Austrians II: Functionalist Versus Essentialist Theories...

Purpose - In the early 1930s, Nicholas Kaldor could be classified as an Austrian economist. The author reconstructs the intertwined paths of Kaldor and Friedrich A. Hayek to disequilibrium economics through the theoretical deficiencies exposed by the Austrian theory of capital and its...