The Pure Theory of Capital

454 pages including bibliography, three appendices, index of authors cited and index of definitions of some technical terms. "The central aim of this study is to make a systematic survey of the interrelations between the different parts of the material structure of the process of production, and the way in which it will adapt itself to changing conditions." - from page three. Chapter titles include: The Scope of the Inquiry; Equilibrium Analysis and the Capital Problem; The Significance of Analysis in Real Terms; The Relation of This Study to the Current Theories of Capital; The Nature of the Capital Problem; The Duration of the Process of Production and the Durability of Goods - Some Definitions; Capital and the 'Subsistence Fund'; The Output Function and the Input Function; The Continuous Process of Production; The Position of Durable Goods in the Investment Structure; The Productivity of Investment; Planning for a Constant Output Stream; Compound Interest and the Instantaneous Rate of Interest; The Marginal Productivity of Investment in the Rate of Interest; Input, Output, and the Stock of Capital in Value Terms; The Marginal Value Product of Investment - The Problem of Attribution (Imputation); Time Preference and its Effects with Constant Returns on Investment; Time Preference and Productivity - Their Relative Importance; The General Conditions of Equilibrium; The Accumulation of Capital; The Effect of the Accumulation of Capital on the Quantities Produced and on Relative Prices of Different Commodities; The Adjustment of the Capital Structure to Foreseen Changes; The Effects of Unforeseen Changes and in Particular of Inventions; The Mobility of Capital; 'Saving', 'Investment', and the 'Consumption of Capital'; Factors affecting the Rate of Interest in the Short Run; Long-run Factors Affecting the Rate of Interest; Differences Between Interest Rates - Conclusions and Outlook. Clean and unmarked with light wear. Bit of foxing to fore- and top edges of text. Minor bumping to navy blue boards. Slight warp to back board. Gilt lettering upon spine clearly legible. Minor indentation midway down spine. Binding sound. Very nice copy. Sraffa 2442.; 8vo - over 7" - 9" tall; Hayek, Friedrich A. The Pure Theory of Capital

Product Info

Publisher: Routledge & Kegan Paul Ltd.

Year: 1962

Type: Used

Binding: Hardcover

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