The Online Library of Liberty

A project of Liberty Fund, Inc.

• Murray N. Rothbard, Preface
• Murray N. Rothbard, Introduction
• Part 1: The Theory of Capital
• Review of F. W. Taussig, Wages and Capital: an Examination of the Wages Fund Doctrine (1897)
• Recent Discussion of the Capital Concept (1900)
• The Next Decade of Economic Theory (1901)
• Review of Böhm-bawerk, Capital Und Capitalzins (1901)
• Review of Böhm-bawerk, Einige Strittige Fragen Der Capitalstheorie (1902)
• Review of Böhm-bawerk, Positive Theorie Des Capitals (1902)
• The Nature of Capital and Income (1907)
• Are Savings Income? —discussion (1908)
• Clark's Reformulation of the Capital Concept (1927)
• Capital (1930-35)
• Reformulation of the Concepts of Capital and Income In Economics and Accounting (1937)
• Part 2:: The Theory of Interest
• The “roundabout Process” In the Interest Theory (1902)
• The Relations Between Rent and Interest (1904)
• Review of Gustav Cassel, the Nature and Necessity of Interest, and Eugen Von Böhm-bawerk,recent Literature On Interest (1905)
• Interest Theories, Old and New (1914)
• Capitalization Versus Productivity: Rejoinder (1914)
• Interest Theory and Price Movements (1927)
• Part 3:: The Theory of Rent
• The Passing of the Old Rent Concept (1901)
• Landed Property As an Economic Concept and As a Field For Research— Discussion (1917)
• Comment On Rent Under Increasing Returns (1930)
• Rent (1930-35)

Review of Böhm-Bawerk, Positive Theorie des Capitals

This second edition, long awaited with lively expectation by students of economic theory, proves to be an unchanged reprint of the first edition published some fourteen years ago. The author has found it impossible in the midst of his duties, recently undertaken as finance minister of Austria, to carry out his revision of this part as he had already done with the first part of Capital and Capitalzins. The author still adheres to his purpose of revising the Positive Theory, but is unable to do so until a more favorable time arrives. The student acquainted with recent magazine articles by the author, in which he has replied to his various critics, is aware, however, that no appreciable change has taken place in Böhm-Bawerk's views on the interest theory. His writings on the problem in the past fifteen years have been taken up, not with the revision and amendment of his interest theory, but merely with a restatement and defense of his well-known views against the critics who have assailed it from many directions. Each year is making the revision of the Positive Theory a more difficult task. The work of Böhm-Bawerk has been the most stimulating influence that has come into economic theory in the last half century, and yet his Positive Theory seems fated to go the way of its many predecessors. Its acceptance by students is each year becoming less and less possible.