Capital and Time: A Neo-Austrian Theory

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9780198772866: Capital and Time: A Neo-Austrian Theory
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In light of renewed interest in the "Austrian" theory of capital, Sir John Hicks offers a new approach that allows for a sequence of outputs in this reissue of his influential 1973 treatise.

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About the Author:

The late J.R. Hicks was formerly Drummond Professor of Political Economy, Oxford University.

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"In this book, John Hicks takes a flyer on Austrian capital theory. I think it is to be regarded as an experiment, not as any sort of commitment. The result, it goes without saying, is illuminating....The Hicksian combination of lucidity and depth is still in evidence."--Economic Journal


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9780198281795: Capital and Time: A Neo-Austrian Theory

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ISBN 10:  019828179X ISBN 13:  9780198281795
Publisher: Oxford University Press, 1973
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Book Description Oxford University Press, United Kingdom, 1995. Paperback. Condition: New. Reprint. Language: English . Brand New Book ***** Print on Demand *****. This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. It is being reissued in paperback in recognition of the recent renewed interest in this approach. The Austrian theory of capital concentrates on the inputs and outputs in the productive process, and has an advantage over more modern theories of economic dynamics in that it is more naturally expressible in economic terms: the production process over time is taken as a whole, rather than disintegrated. However, this approach had been largely abandoned because it seemed to be unable to deal with fixed capital. Sir John overcomes this problem here by allowing for a sequence of outputs, and the consequences for dynamic economics are profound and novel. Seller Inventory # AAV9780198772866

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Book Description Oxford University Press, United Kingdom, 1995. Paperback. Condition: New. Reprint. Language: English . Brand New Book ***** Print on Demand *****.This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. It is being reissued in paperback in recognition of the recent renewed interest in this approach. The Austrian theory of capital concentrates on the inputs and outputs in the productive process, and has an advantage over more modern theories of economic dynamics in that it is more naturally expressible in economic terms: the production process over time is taken as a whole, rather than disintegrated. However, this approach had been largely abandoned because it seemed to be unable to deal with fixed capital. Sir John overcomes this problem here by allowing for a sequence of outputs, and the consequences for dynamic economics are profound and novel. Seller Inventory # AAV9780198772866

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Book Description Oxford University Press, USA. Paperback. Condition: New. This item is printed on demand. 228 pages. In light of renewed interest in the Austrian theory of capital, Sir John Hicks offers a new approach that allows for a sequence of outputs in this reissue of his influential 1973 treatise. This item ships from La Vergne,TN. Paperback. Seller Inventory # 9780198772866

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