F. A. Hayek’s long-overlooked 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 now 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 "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 the business cycle theory.
The treatment in Chapters 17 and 18 of the rôle of psychic elements in the
determination of the rate of interest differs from the classical discussion of the
same questions as we find it in the writings of Böhm-Bawerk and his School in
three main points.1 Firstly, it stresses from the outset that there is not one single
significant rate of 'time preference' (at least for any given person), but that this rate
of time preference itself varies with the changes in the relative size of the present
and future ...
One Day at a Time is written with humor and includes inspiring stories in clear and simple language in order to help children understand the concept of values. By reading and applying these concepts, children will build solid and excellent societal values that will shape and drive their characters in adult live.
... explained that the seeds he had given them were artificial seeds, thus could
not produce flowers regardless of the most sophisticated treatment any person
would have given the seeds. By this test, the King wanted the most honest among
them as the Crown Prince in whom he could put his trust. One of the most
important characters a person can, and should have, is honesty. There are
moments when you may be tempted to lie about your misbehavior or do
something dishonest to ...
Development of regional resources of East Java Province, 2009.
Development of regional resources of East Java Province, 2009.
