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Key Authors in the Three Approaches of Austrian Capital Theory
Source publication
This brief paper explores the divergent conceptual foundations within Austrian capital theory, highlighting significant differences in the treatment of capital. It contrasts three approaches: one emphasizes the critical role of monetary valuation in economic calculation and decision-making and two focus on physical aspects of the production process...
Context in source publication
Context 1
... differences within Austrian capital theory have existed for a considerable time, reflecting the diversity of approaches and perspectives within the school. Table 1 below lists the main authors of the various approaches, arranged roughly in chronological order. It is not always easy to assign individual authors to specific approaches, as some move between them, sometimes consciously, sometimes unconsciously. ...