Capital and its Structure
A reprint of Lachmann’s 1956 classic of Austrian capital theory in which he draws upon the work of Carl Menger, Frank Knight and Friedrich Hayek. In this book Lachmann shows how firms invest to position capital goods with one another, thus creating the complex capital structure. He shows how capital formation and adjustment is a continuous transformation which is immensely complex in its combinations and heterogeneous flow, and how it is capable of co-ordinating the ever-changing plans of individual participants.
Capital and its Structure (Kansas City: Sheed Andrews and McMeel, 1978).
This work is copyrighted by the Institute for Humane Studies, George Mason University, Fairfax, Virginia, and is put online with their permission.
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Table of Contents
- PREFACE TO THE SECOND EDITION
- CHAPTER I: THE ORDER OF CAPITAL
- CHAPTER II: ON EXPECTATIONS
- CHAPTER III: PROCESS ANALYSIS AND CAPITAL THEORY
- CHAPTER IV: THE MEANING OF CAPITAL STRUCTURE
- CHAPTER V: CAPITAL STRUCTURE AND ECONOMIC PROGRESS
- CHAPTER VI: CAPITAL STRUCTURE AND ASSET STRUCTURE
- CHAPTER VII: CAPITAL IN THE TRADE CYCLE