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An Essay on Capital 0th Edition

4.5 out of 5 stars 2 customer reviews
ISBN-13: 978-0678001981
ISBN-10: 0678001987
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Product Details

  • Hardcover: 147 pages
  • Publisher: Augustus M Kelley Pubs (June 1966)
  • Language: English
  • ISBN-10: 0678001987
  • ISBN-13: 978-0678001981
  • Product Dimensions: 0.8 x 6 x 9 inches
  • Shipping Weight: 10.4 ounces
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #3,623,518 in Books (See Top 100 in Books)

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By James F. Mueller on April 5, 2007
Format: Hardcover Verified Purchase
Kirzner's little book serves as a great overview of the recent and most important theories of capital. Most noteworthy of all is perhaps Kirzner's introductory chapter in which he discusses the significance of exchange and the process of forming multi-period plans. This highlights the role of time, which makes possible the act of revision in response and anticipation to the plans of other market participants. This insight is then applied to issues concerning "waiting" and "capital measurement".
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Format: Hardcover
Kirzner's book is an excellent discussion of capital theory from the free market perspective of Ludwig von Mises and Friedrich A. Hayek. Kirzner suggests that only a theory of heterogeneous capital can explain the reasons for price changes in today's financial markets. A must read book on capital theory for readers wanting to know more about the free market, an economic model not often taught in most statist and big government oriented university economic departments.
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