Capital and its Structure

• Ludwig M. Lachmann (author)

A reprint of Lachmann’s 1956 classic of Austrian capital theory. 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.