9780865978454-086597845X-The Pure Theory of Capital (The Collected Works of F. A. Hayek)

The Pure Theory of Capital (The Collected Works of F. A. Hayek)

ISBN-13: 9780865978454
ISBN-10: 086597845X
Edition: Illustrated
Author: Hayek, F. A.
Publication date: 2012
Publisher: Liberty Fund
Format: Paperback 470 pages
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Book details

ISBN-13: 9780865978454
ISBN-10: 086597845X
Edition: Illustrated
Author: Hayek, F. A.
Publication date: 2012
Publisher: Liberty Fund
Format: Paperback 470 pages

Summary

Acknowledged authors Hayek, F. A. wrote The Pure Theory of Capital (The Collected Works of F. A. Hayek) comprising 470 pages back in 2012. Textbook and eTextbook are published under ISBN 086597845X and 9780865978454. Since then The Pure Theory of Capital (The Collected Works of F. A. Hayek) textbook was available to sell back to BooksRun online for the top buyback price of $ 3.53 or rent at the marketplace.

Description

Hayek's most detailed work in economic theory, The Pure Theory of Capital, has long been overlooked. First published in 1941, it stood in sharp contrast with fashionable economic thought, which had shifted under the influence of John Maynard Keynes. This publication represents Hayek's last major work in economics.

This volume offers a detailed account of the equilibrium relationships between inputs and outputs in a time-filled economy. Hayek's stated objective was to make capital theory—which had previously been devoted almost entirely to the explanation of interest rates—"useful for the analysis of the monetary phenomena of the real world." His ambitious goal was nothing less than to develop a capital theory that could be fully integrated into business cycle theory. Hayek's manifesto of captial theory is now available again for today's students and economists to discover.

The introduction, by Hayek expert Lawrence H. White, firmly situates the book in a historical and theoretical context, as well as within Hayek's own life and his struggle to complete the manuscript. It provides important insights into Hayek's theories, the intellectual environment in which he wrote, and the personal context of this important work.

F. A. Hayek (1899–1992) was awarded the Nobel Memorial Prize in Economic Sciences in 1974 and the Presidential Medal of Freedom in 1991. He was one of the leading Austrian economists and political philosophers of the twentieth century.

Lawrence H. White is Professor of Economics at George Mason University.

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