Capital and Interest Theory

Low interest rates combined with high-risk fractional reserve banking creates a powder keg on which we’re sitting today, writes Frank Hollenbeck.

Do we now have the Third Culture that C. P. Snow saw coming to life? It would appear so.

Booms and busts are brewing in the real economy, but computers that can quickly solve math problems won’t tell you much about how business cycles w

As substantial as economist as Schumpeter could claim that interest is a disequilibrium phenomenon and fantasize about a long-run equilibrium where market forces have pushed the interest rate to zero. 

Time and Money is a multifaceted achievement. Within its pages the reader will encounter business cycle theory, capital theory, comparative economic thought

Roger Garrison (2001) provides a welcome diagrammatic exposition of Austrian, capital-based macroeconomics. The exposition attempts to account not only for Austrian business cycles (ABCs), but also for long-run, secular growth.

In response to Topan and Păun in this issue, this comment upholds two lines of argument in defense of the Pure Time Preference Theory of interest. Ludwig von Mises claimed that time preference is a fundamental concept of human action.

This book is a long-awaited project among Austrian economists; some of the central contributions found in the book date back nearly a quarter of a century. 

The Austrian theory of the business or trade cycle is an intricate blend of monetary theory and capital theory. Mises’s (and Hayek’s) monetary and capital theories differ in both significant 

This paper briefly summarizes Ulrich Fehl’s important contributions to Austrian capital theory. While his work is well known in Europe he remains a relative unknown to the English speaking world.