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HAYEK ET KNIGHT (1933-1936). LA CONTROVERSE SUR LE CAPITAL

Stéphane Longuet

Cahiers d’économie politique / Papers in Political Economy, 2006, issue 51, 177-195

Abstract: In 1933, Knight launched a violent attack against the Austrian theory of capital. Beyond an apparent opposition on the average period of production, the conflict concerns more profoundly the capacity of the Austrian theory to ground a general theory of production and to build on a dynamic theory, which was Hayek’s theoretical project. The paper tries to explain why this polemic reveals the weaknesses of Hayek’s economic theory.

JEL-codes: B25 B52 B53 E22 (search for similar items in EconPapers)
Date: 2006
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