This Element presents a new framework for Austrian capital theory, starting from the notion that capital is value. Capital is the value attributed by the valuer

This book, first published in 1973, takes up an important approach to capital which had gone out of fashion. It is being reissued in paperback in recognition of

Von Boehm-Bawerk is one of the leading economists of the so-called Austrian school. With Karl Menger and others, he has contributed to the development of a theo