"The Pure Theory of Capital", F. A. Hayek's long-overlooked, little-understood volume, was his most detailed work in economic theory. Originally published in 1941 when fashionable economic thought had shifted to John Maynard Keynes, Hayek's manifesto of capital theory is available again for today's students and economists to discover. With a new introduction by Hayek expert Lawrence H. White, who firmly situates the book not only in historical and theoretical context but within Hayek's own life and his struggle to complete the manuscript, this edition commemorates the celebrated scholar's last major work in economics. Offering a detailed account of the equilibrium relationships between inputs and outputs in an economy, Hayek's stated objective was to make capital theory - which had previously been devoted almost entirely to the explanation of interest rates - "useful for the analysis of the monetary phenomena of the real world." His ambitious goal was nothing less than to develop a capital theory that could be fully integrated into business cycle theory.
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F. A. Hayek (1899 - 1992), recipient of the Presidential Medal of Freedom in 1991 and cowinner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. Lawrence H. White is the F. A. Hayek Professor of Economic History at the University of Missouri - St. Louis. He is the author of several books, including, most recently, The Theory of Monetary Institutions. He is currently a visiting professor at Queen's University Belfast.
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stapled wrappers. Condición: Good. Second Printing. 12mo, 48 pages, green stapled wrappers, bookplate, some glossing by the previous owner, one scuff to top cover With Commentaries by Ivor F. Pearce, Harold B. Rose, Douglas Jay, Sir Keith Joseph. Issued as no. 48 in the IEA Occasional Paper series Hayek was awarded the Nobel Prize in Economics just two years previous, in 1974. "The idea of repealing the legal tender laws so that people could carry out business in dollars, marks ounces of gold, EEC, 'Europas', or anything else may seem removed from everyday experience. But before long it will be necessary to take it very seriously indeed." - The Financial Times. Nº de ref. del artículo: 0011205
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Condición: New. "The Pure Theory of Capital", was F A Hayek's most detailed work in economic theory. This work situates the book not only in historical and theoretical context but within Hayek's own life and his struggle to complete the manuscript. Editor(s): White, Lawrence H. Series: The Collected Works of F. A. Hayek. Num Pages: 464 pages, 34 line drawings, 1 table. BIC Classification: KCA. Category: (P) Professional & Vocational. Dimension: 235 x 161 x 34. Weight in Grams: 774. . 2007. New ed. Hardcover. . . . . Nº de ref. del artículo: V9780226320991
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Condición: New. "The Pure Theory of Capital", was F A Hayek's most detailed work in economic theory. This work situates the book not only in historical and theoretical context but within Hayek's own life and his struggle to complete the manuscript. Editor(s): White, Lawrence H. Series: The Collected Works of F. A. Hayek. Num Pages: 464 pages, 34 line drawings, 1 table. BIC Classification: KCA. Category: (P) Professional & Vocational. Dimension: 235 x 161 x 34. Weight in Grams: 774. . 2007. New ed. Hardcover. . . . . Books ship from the US and Ireland. Nº de ref. del artículo: V9780226320991
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