Home > Uncategorized > Background reading on Capital Theory

Background reading on Capital Theory

Hope everyone enjoyed last weeks seminar.  Here are a few more resources if you would like to do some more reading or watching.

You can check out the rest of the lecture here http://www.ustream.tv/recorded/8548058.  Roger Garrison goes further on the implications of capital based macro economics on the business cycle.  He has also written a book called Time & Money: The Macroeconomics of Capital Structure.  It is available through the university databases if you are a student.  You’ll find it here http://www.crcnetbase.com.ezproxy.auckland.ac.nz/isbn/978-0-415-07982-2.

The Importance of Capital Theory’-Robert Murphy  www.mises.org/daily/3155

Capitalism-George Reisman,

Pp 130-133, ‘Universal Aspects of Production’

pp 441-456, ‘The Role of Money-Making in Productive Activity’pp 622-641,

The book is online at http://www.capitalism.net

Capital and Its Structure-Ludwig Lachmann

Chapter 7, ‘Capital in the Trade Cycle’

Book online at http://www.econlib.org/library/NPDBooks/Lachmann/lchmCS.html

Human Action-Ludwig Von Mises

Chapter 28, ‘Action in the Passing of Time’Book online at http://www.econlib.org/library/Mises/HmA/msHmA.html

Eugen v. Böhm-Bawerk has been one of the players in the Capital Theory debates that are still going today.  Here he writes a Critical History of Economic History from Medieval times until the time of his writing in 1890.  You might ask why read a book on economic theory that is over 100 years old?  Well this shows that some of the controversies are not new and the same problems have been plaguing economists for centuries.   This cover’s thinker’s from Adam Smith to Marx and lots in-between.


And just to show you that this issue is far from settled here http://econ.yorku.ca/~avicohen/Linked_Documents/JEP_Cohen_Harcourt.pdf is a paper from Cohen and Harcourt in 2003.  This covers the Cambridge Capital Controversies that was between economists in Cambridge England and Cambridge Massachusetts.  This is only a taster.  There is much more to be said on this topic but that is all for now.

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