James McClure

Integrating sequestered capital into Austrian capital theory would protect against criticisms from theories based on animal spirits or irrational exuberance, says James McClure.

Schumpeter warned that assessments that ignored creative destruction would misconstrue the social results that arise from capitalism in practice. This article exposes the applicability of this warning to the analyses of positional-good consumption presented by Robert Frank.

Deepening the understanding of the capital structure by unpacking the process that coordinates capital within the new-product R&D stage of the capital structure is the purpose of this paper.