Paul A. Samuelson's (1966) capitulation during the so-called Cambridge controversy on the phenomenon of re-switching of techniques in capital theory had implications not only in pointing at a supposed internal contradiction of the marginal theory of production and distribution, but also in...

This paper examines the validity of the factor price equalisation theorem (FPET) in relation to capital theory. Additionally, it presents a survey of the literature on Heckscher-Ohlin-Samuelson (HOS) models that treat capital as a primary factor, beginning with Samuelson (1953). Furthermore,...

Capital theory has taken a new turn with the theoretical discovery that wage curves tend to get linear in random systems, the larger they are, and with the confirmation that empirical wage curves do not deviate a great deal from linearity. The present chapter adds to these results by arguing...

This study explains the causes of capital controversies that occurred thrice in economic history, namely, at the turn of the 20th century, in the 1930s, and in the 1960s. Recurrence of controversies seeks answers from various theoretical frameworks. Differences between the Classical and...

The paper identifies as the root of the recent controversy in the theory of capital David Ricardo's finding that competitive prices and costs of production depend not only on the methods of production employed, but also on the wage rate (or rate of profits) and change with it. A consequence of...

The paper deals with the continuities and discontinuities between some classical, Austrian and neo-Austrian authors with regard first to the theory of capital and then to the theory of entrepreneurship. Part I focuses on the elements of continuity between the classical and the Austrian theory of...