Capital and Interest: A Critical History of Economical Theory

Capital and Interest: A Critical History of Economical Theory is a seminal work in the field of economics, written by the Austrian economist Eugen von B������hm-Bawerk. Originally published in German in 1884, the book provides a comprehensive analysis of the theories of capital and interest that were prevalent at the time.B������hm-Bawerk's main argument is that the traditional theories of capital and interest, which were based on the idea that the value of capital is determined by the amount of labor that goes into producing it, are fundamentally flawed. He argues that the value of capital is actually determined by the marginal productivity of the factors of production, and that interest rates are determined by the time preference of individuals.The book is divided into three parts. The first part provides a historical overview of the development of economic theory, from the classical economists to the marginalists. The second part is a detailed critique of the labor theory of value and the theories of capital and interest that are based on it. The third part presents B������hm-Bawerk's own theory of capital and interest, which he calls the ""time-preference theory.""Capital and Interest: A Critical History of Economical Theory is widely regarded as one of the most important works in the history of economics. It has had a profound influence on the development of economic thought, particularly in the Austrian school of economics. The book is still widely read and studied today, and is considered essential reading for anyone interested in the history of economic thought or the theory of capital and interest.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.