Download or read book Essays on Capital and Interest written by Israel M. Kirzner and published by Edward Elgar Publishing. This book was released on 1996 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: In three previously published essays and a new introduction, Kirzner (economics, New York U.) argues that an Austrian approach to economics based on the pure time-preference theory offers an attractive alternative to both the orthodox neoclassical and the heterodox Sraffian approaches. In his subjetivist view that traces all capital and interest phenomenon to individual multi- period plans, capital appears not as an objective mass of tools and equipment, but as the interim state in which inter-locking multi-period plans have manifested themselves at a particular point. Annotation copyright by Book News, Inc., Portland, OR