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Capital and Its Structure by Ludwig Lachmann
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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.