Capital & Production
Index
(Prepared by Richard Perry)
Akerman, G., 29, 165
Amonn, Alfred, 167
Austrian School of economics, vii-xvi, xxiv
Bauer, Otto, ix
Böhm-Bawerk, Eugen von, viii, xi, xii, xviin, 1, 3–4, 16n, 165, 167
Business cycle, xix, xxiii
contraction, 137–48
course of, 158–60
crises recurrence, 151–57
expansion, 148–50
intervention, 151–57
problems, 135–36, 151–57
turning points, 137–51
see also Interest
Capital
complimentary parts, 97
concept of, 161–64
constraint of production structure, 53, 60
consumption, 74, 129–33, 141
defined, 6
direct exchange, 109–10
not force of production, 2
form of money assets, 94–109
forms of
fixed, 27, 34–35
free, 27–35, 62
complementary good, 31, 34
consumer good frees capital, 95
specific and restricted form, 30
transfer between entrepreneurs, 63
intermediate products, 27
goods
boom, 127–29
consumer goods used in specific ways, 27
durable, 14–26
immobilization, 120–21, 131
interest, 52–61, 109–20, 124, 126
investment, 15–17, 23, 53
liquid, 27, 63
malinvestment, 121, 124–25, 132–33
money, 2, 94–109
as use of originary means of production, 2
present or future, 53, 67, 110
produced means of production, 2
readjustments, 85
reproductive consumption, 68
Strigl’s theory of, xx-xxiii
supply, 61–65
time bridging, 97
transfer, 63
as veil of money, 20
wages and, 66
see also Investments; Money; Production
Capitalism as “capitalist way, ” 2
Clark, John Bates, 10, 165
Consumption
capital, 74, 129–33, 141
consumer, 99
reproductive, 68
Cost
equivalencies, 52, 63
formation, 79–90
interest, 60
law of, 43–46
Credit, 109–20
contraction, 117–18
creation of, 114–17
devaluation of money, 127
effect of, 120–33, 148–50
ripple, 125
see also Business cycle
Čuhel, Franz, vii, xii
Depression, Great, viii, xix, xxi,
Disequilibrium, 149
Durable goods
See Goods, durable
Durable factors of production
See Production, durable factors of
Englis, Karel, xii
Entrepreneurs
as middlemen, 46–47, 56
calculation and, 47, 78, 87
competition among, 44, 57
discovery process, 46
in a changing economy, 85–90
investment and, 103
labor market and, 44
operation of, 43, 51, 54–62, 110
prices and, 64
profit and loss of, 44–45, 53, 55
technology and, 87
see also Market economy
Eucken, Walter, xii, xv
Evenly rotating economy
economic processes, 27–38, 89–90
supply curves of, 40–43
Expectations
role of, xxii-xxiii
Fisher, Irving, xviin, 165
Funds
derived from consumer goods, 20, 23, 25
renewal, 11–13, 17–26, 29, 34–35, 62
subsistence, 7–13, 18–21, 24, 26, 28, 34, 62
Gallaway, Lowell, xxin
Garrison, Roger, ixn
Genechten, R. van, 165
Goods
complementary, 46, 70–71
consumers’, 99–106
durable, 14–26
money accepted as, 97–100
substitutes, 39
see also Capital, goods
Haberler, Gottfried von, vii, ix, xv, 166
Hahn, Albert, 166
Halm, Georg, 165
Hayek, F.A., vii, viiin, x, xi, xii, xiii, xv, xvin, xviin, xxivn, xxv-xxvi, 167
Hicks, John R., 52n, 166
Historical School, xv
Hoarding, xxii-xxv
Hoppe, Hans-Hermann, viii, xxvii
Horizontal connectivity, 37–90
Hülsmann, Jörg Guido, xviin
Interest
credit expansion and trade cycle, 148–60
determines length of roundabout methods, 59, 110–14
durable goods, 61
investment, 111–20
malinvestment and, 59
rate
equilibrium, 114
height of, 35
natural, 114
present and future, 113
savings and, 65
uniform, 58, 111
wages and, 69–71
reallocate production methods, 60
see also Production
Intermediary products, 4, 14
Intervention of central bank, 151–57
Investments
capital, 109–20
choosing, 53
and consumer goods demand, 100
immobilization, 120–21
loss, 33
marginal product, 73
period, 67–68
reluctance toward, 146–48
uncertainty, 64
see also Capital, goods; Entrepreneurs; Interest, rate; Malinvestments; Production
Jevons, William Stanley, viii, xviiin, 3, 165
Keynes, John Maynard, xvi-xvii, 165
Kirzner, Israel M., viin, xviin
Knight, Frank, 166
Koopmans, J.G., xxivn, 167
Labor
disutility of, 42
marginal, 65
mobility, 42
as originary means of production, 1, 65
quality of, 40
share, 66, 68
theory of, 65
unemployment, 72–75
wage fund as complementary good, 70
wages for, 42, 66–69
produce means of production, 3
pushed back in time, 71
Lachmann, Ludwig, xii, xviin, xxiiin
Lampe, Adolf, 165
Land
diminishing returns, 48–49
as originary means of production, 1
pension fund, 75–76
quality of, 40
Law of returns, 46–52
Liefmann, Robert, xii
Lewin, Peter, ix
Lutz, Friedrich, xii
Machlup, Fritz, vii, ix, x, xii, xv, xxivn, 167
Mahr, Alexander, xii
Malinvestments, 15, 31–32, 59, 62, 121, 124–25, 132–33
see also Credit, creation
Marginal productivity, 46–52, 79–90
Market economy
function of, 109
process, 37
see also Business cycle
Marshall, Alfred, 166
Mayer, Hans, vii, xii, 165
Menger, Carl, xi, xii, xxii, 31
Mises, Ludwig von, vii, ix, xii, xiii, xv, xviin, xviiin, xx, xxi, xxii, xxiiin, xxivn, xxvi-xxvii, 166–67
Money
capital assets as form of, 94–109
cash reserves, 145
change in quantity, effects of, 91–94
devaluation, 127
features of, 91–133
holdings, 92
market, 147–48
non-neutrality of, 91–94, 118–20, 140
prices, 91–94
relation with property, 93–94
representative of goods, 97–100
ripple effect (new), 93–94
supply of, 92–93
see also Credit
Morgenstern, Oskar, vii, viiin, x, xv, 166–67
Nazis (National Socialist German Workers’ Party), xv-xvi
Neurath, Otto, ix
Originary factors of production, 6
capital as produced from, 2
Policy limitations, 89–90
Prices
changeability of, 63, 91–94
competitive, 38
equilibrium, 39
formation of, 38–39
horizontal connectivity of, 37–90
level of, 91–94, 101
market and, 37–38
original factors of production, 65–76
production and, 91–94
relationships, 77–78, 91–94
role in Strigl’s theory, xx-xxi
substitution, 76
sum of individual demands, 92
system, 91–94
vertical connectivity of, 37–90
Production
adjustments, 35
Böhm-Bawerk’s views, 1, 4
capital employment as process of, 95–96
capital as produced means of, 2
coordination of, 52–61
credit expansion
See Credit, creation
disruption of, 11, 25, 29, 33, 35
durable factors of, 14–26, 61
efficiencies, 1
factors
substitution, 40
supply of, 39–43
increased, 1, 3
innovation, 1
interest rate allocates, 60, 109–20
interruption by lack of subsistence fund, 7
investment, 15–17, 23
justified, 15
law of returns, 46–52
marginal productivity, 46–52, 79–90
means of, 1–2
momentary, 3, 17, 33
money, 91–133
pricing, general, 39
process, 95–96
roundabout methods of, 2–14
capital constraint, 53, 67, 109
choosing, 3, 7, 16
credit expansion and, 115–17, 120–33
increasing returns, 4–5, 26
correct choice, 4–5, 7, 12, 16, 26, 32, 35, 55, 58, 60, 122–23
interest and, 59, 96, 114
length, 4–14, 71–72
limits, 87–88
reallocate, 30
shorten, 8, 33
structure, 21–22, 26, 85, 92–94, 102–08, 111–14
synchronizing, 10, 14, 22–25
technology, 86–87
see also Capital; Savings; Wealth
Property, 93–94, 109, 114
Redistribution of property, 93–94
Reisman, George, xviiin
Renewal funds
See Funds, renewal
Robbins, Lionel, 166–67
Robertson, D.H., 166
Röpke, Wilhelm, xii,
Roscher, Wilhelm, xxivn, 3, 28n
Rosenstein-Rodan, Paul, vii, xii
Rothbard, Murray N, xiiin, xviin, xxin, xxivn
Salerno, Joseph T., xi
Savings
growth, 61, 65
investments, 98, 100
Sax, Emil, xii
Say’s Law, xix
Scarcity, 1
Schams, Ewald, xii
Schlesinger, Karl, xii
Schönfeld-Illy, Leon, vii, xii
Schumpeter, Joseph, ix, xii, xiii, 165
Sechrest, Larry, xxvi
Selgin, George, xxviin
Skousen, Mark, viii, xviin
Smith, Barry, vii
Spann, Othmar, x-xi
Static economy
See Evenly rotating economy
Steindl, Joseph, ix, xvi
Strigl, Richard Ritter von
biography and influences, vii-xvi
method of, xx-xxii
theory of capital, xvii-xix
Subsistence fund
See Funds, subsistence
Taussig, Frank W., 165
Thünen, Heinrich von, 66n
Time, sacrifice of permits greater output, 4–6
Unemployment, 72–75
Vedder, Richard, xxin
Vertical connectivity, 37–91
Wages
capital and, 66
entrepreneur and, 44–45
equilibrium, 45
fund, 68–69, 72
increasing production and, 72
rates, market effect of, 69–70
subsistence and, 68
specific time period and, 69
Walras, Leon, xii
Wealth
changes in, 109
of economy, 16
see also Money; Savings
Weiss, Franz, xii
Wicksell, Knut, xii, xviin, 57n, 165–67
Wicksteed, Philip, 52n
Wieser, Friedrich von, xi, xiii, xxivn, 30
