Capital and Its Structure
by Ludwig Lachmann
Publisher: Ludwig von Mises Institute 2007
Number of pages: 138
Ludwig Lachmann in 1956 set out to correct the problem that the economics profession had no coherent and working understanding of capital, a concept so integral to economic science and yet not explored at length since the takeover of macroeconomics by Keynesian theory. Here he presents a robust theory of capital that incorporates an Austrian understanding of the business cycle and the market process. It remains a seminal study written while he was at the height of his intellectual powers.
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The mathematical methods described are used in the elucidation of problems of economic theory. Illustrative examples are added and it is hoped that the reader will become familiar with the mathematical tools and applications to concrete problems.
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