First Edition of Böhm-Bawerk's Capital and interest: A critical history of economical theory

  • Capital and Interest: A Critical History of Economical Theory.

Capital and Interest: A Critical History of Economical Theory.

Item Number: 33003

London and New York: Macmillan and Co, 1890.

First edition in English. Octavo, original cloth. Translated from the German by William Smart. In near fine condition with a previous owner’s name opposite the title page, small tear to the front free endpaper.

Capital and Interest was hailed by Ludwig von Mises as "the most eminent contribution to modern economic theory." The great economist and finance minister of the Austro-Hungarian Empire is a pillar of the Austrian School. As a champion of the new marginalist school, Capital and Interest brought him more fame than even Carl Menger had in his day. Translated by Scottish economist William Smart, who had a large impact on the American and British economic scene, and the one that remains lucid and penetrating. With depth and lucidity, Böhm-Bawerk surveys and critiques failed theories of interest from antiquity to modern times, presents a full theory of the structure of production, and defends the importance of capital in production and time in the determination of the interest rate.