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Relationships between Modern Austrian and SRAFFA’s Capital Theory

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Studies in Austrian Capital Theory, Investment and Time

Part of the book series: Lecture Notes in Economics and Mathematical Systems ((LNE,volume 277))

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Abstract

Capital theory is notoriously known to be a field of controversies not few of which are due to misunderstandings. There are, for example, many articles and books which deal with the two Cambridge schools. As far as I know there is no paper dealing with relationships between the Austrian and SRAFFA’s capital theory. Since I have repeatedly been questioned on this topic I will try to fill some part of this gap. In Section 2 I outline our approach of modern Austrian capital theory and in Section 3 I give a brief introduction to SRAFFA’s book PRODUCTION OF COMMODITIES BY MEANS OF COMMODITIES (SRAFFA [1960]), which will be the basis of our comparison with the neo-Austrian capital theory in Secton 4.

I am grateful to PETER BERNHOLZ (Basel), FRIEDRICH BREYER, ALEXANDER GERYBADZE, JOHANN IRSIGLER, HANS-JÜRGEN JAKSCH, WINFRIED REISS, GUNTER STEPHAN (Heidelberg), PETER FLASCHEL, KIAUS JAEGER (Berlin), HARALD HAGEMANN, H.D. KURZ (Kiel), DIETER RENNING (Turlock, Cal.), S.ZAMAGNIE (Bologna) for critical comments. Of course, I assume full responsibility for anv errors. First published in: Zeitschrift für die gesamte Staatswissenschaft 136, 1980, pp. 617–629.

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Authors
  1. Malte Faber
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  1. Alfred-Weber Institut für Sozial- und Staatswissenschaften, Universität Heidelberg, Grabengasse 14, D-6900, Heidelberg, Germany

    Malte Faber

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Faber, M. (1986). Relationships between Modern Austrian and SRAFFA’s Capital Theory. In: Faber, M. (eds) Studies in Austrian Capital Theory, Investment and Time. Lecture Notes in Economics and Mathematical Systems, vol 277. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51701-3_3

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  • DOI: https://doi.org/10.1007/978-3-642-51701-3_3

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  • Print ISBN: 978-3-540-16804-1

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