This Is A New Release Of The Original 1922 Edition.

Capital and interest;: A critical history of economical theory, (Reprints of economic classics)

Eugen von Böhm-Bawerk

William, Smart

A.M. Kelley

Value and Price (Capital and Interest Extract)

Business & Money

Economics

Libertarian Press

Boehm-Bawerk's magnum opus, one of the greatest achievements in the history of economic thought. In fact, it is a Magna Carta of the capitalistic production process. In an economic order based on production, income from capital investment provides the very basis of the system and a livelihood for a large middle class, as well as capitalists and entrepreneurs. All observations about the nature and appraisals of the value of capitalism hinge upon the explanation of this capital income. Capital and Interest is divided into three parts: 
The first volume History and Critique of Interest Theories, is a diligent and persuasive analysis of virtually all capital income theories. It is a critical history of interest doctrines that defend or oppose capital income. The second volume, Positive Theory of Capital, contains much more than the title seems to indicate. It presents a comprehensive theory of the entire production process. In particular, it elaborates on the principles that govern the allocation of incomes, that is, the amounts of interest, wage, and profit. Boehm-Bawerk offers a persuasive solution to all questions of income and theories of distribution. In Volume III, Further Essays on Capital and Interest, the publisher collected additional explanations and commentaries by the author. It comprises fourteen brilliant briefs explaining, elaborating, and defending the Positive Theory. It contains such great essays as "The Role of Disutility in the Value Theory" and "The Size of the Initial Fund that is Necessary for a Given Production Period."

Capital and Interest (3 Volumes in 1)

Capital and Interest Volume 1 : History and Critique of Interest Theories

History

Americas

Libertarian Pr

Excerpt from Capital and Interest: A Critical History of Economical Theory The portion of total "profit" obtained by the private employer or undertaker, as such, is here eliminated; or, rather, it is made definite and measurable in being divided among the managing director, the ordinary directors, and the secretary, who are paid a fixed fee, salary, or, accurately and simply, a wage. A careful consideration of the balance sheet of any such company will guard us against a common misunderstanding. Such a balance sheet will generally show two funds - a Depreciation Fund and an Insurance Fund. The former, sometimes called Sinking, Wear and Tear, Repairs, or Replacement of Capital Fund, secures that fixed capital, or its value, is replaced in the proportion in which it is worn out, and thus provides a guarantee that the value of the parent capital is not encroached upon, or inadvertently paid away in dividend. The latter, sometimes called Equalisation of Dividend Fund, is a provision for averaging the losses that are sure to occur over a series of years, and are really a portion of the current expenses. It is only after these funds are provided for that the dividend is paid over to the shareholders, and this accentuates two important facts: (1) that interest properly so called is something distinct from any portion of parent capital, and (2) that it is not accounted for by insurance against risks. The question now is, Is such a dividend pure interest? Here we have to reckon with the familiar fact that limited companies, under similar conditions, pay the most various rates of dividend. If then we accept "dividend" as the equivalent of "interest" we shall have to conclude that varying rates of interest are obtainable on equal amounts of capital. On looking closer, however, we find the dividing line again reasserting itself. If a sound industrial company is known to be paying a dividend higher than a certain definite percentage on its capital, the va…

Capital and Interest: A Critical History of Economical Theory (Classic Reprint)

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