Capital and Interest

by F. A. Hayek, Lawrence H. White (Editor)

Overview

Produced throughout the first fifteen years of Hayek’s career, the writings collected in Capital and Interest illuminate the development of Hayek’s detailed contributions to capital and interest theory. Familiar works are accompanied by lesser-known articles and lectures, and the collection sheds light on how Hayek’s work related to other influential economists of the time. An introduction by the book’s editor, leading Hayek scholar Lawrence H. White, places Hayek’s contributions in careful historical context, with ample footnotes and citations for further reading.

Product Details

ISBN-13:	9780865979338
Publisher:	Liberty Fund, Incorporated
Publication date:	06/27/2023
Series:	Collected Works of F. A. Hayek
Pages:	240
Product dimensions:	6.00(w) x 9.00(h) x 0.50(d)

About the Author

F. A. Hayek (1899–1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economic Sciences in 1974, was a pioneer in monetary theory and one of the principal proponents of classical liberal thought in the twentieth century. He taught at the London School of Economics, the University of Chicago, and the University of Freiburg.

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

Table of Contents

Editor’s Introduction

One        Some Observations on the Imputation Problem (1926)
Two        On the Problem of Interest Theory (1927)
Three     Utility Analysis and Interest (1936)
Four       Capital Consumption (1932)
Five        Saving (1934)
Six          On the Relationship between Investment and Output (1934)
Seven    Professor Hayek and the Theory of Investment by Frank H. Knight (1935)
Eight      The Mythology of Capital (1936)
Nine       Technical Progress and Excess Capacity (1936)
Ten         The Maintenance of Capital (1935)
Eleven    Maintaining Capital Intact by A. C. Pigou (1941)
Twelve    Maintaining Capital Intact: A Reply (1941)

Index

Editorial Reviews

An excellent collection. White has expertly organized Hayek’s articles on capital theory, supplementing these essays with an accessible introduction that provides a modern appreciation for both the depth of Hayek’s thinking and the changes in his views over time.

Ross B. Emmett

Capital and Interest is lucid, logically organized, and speaks clearly to the big issues behind each collection of articles. White has done an exemplary job, chronicling the development of Hayek’s thought.

Avi J. Cohen