Economics at your fingertips  

Carl Menger’s Contribution to Capital Theory

Eduard Braun

History of Economic Ideas, 2015, vol. 23, issue 1, 77-100

Abstract: The common interpretation of Carl Menger’s take on capital theory rests upon a few sentences in his "Principles of Economics". His later monograph on the topic, "Zur Theorie des Kapitals" ("A contribution to the theory of capital"), is more or less ignored, although it must be seen as a recantation of his earlier views. As it becomes clear in this work, Menger would have opposed all attempts to define capital as a heterogeneous structure of higher-order goods – a definition that is associated with his name today. In his opinion capital is a homogeneous concept stemming from accounting practices. The debate about Menger’s view on capital does not only concern terminological points, but involves the subject matter of capital theory. A theory of capital based on Menger’s later view would concentrate on the way the market economy is organized and not on technical characteristics of a multi-stage production process.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
Access to full text is restricted to subscribers

Related works:
Working Paper: Carl Menger’s Contribution to Capital Theory (2013) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

History of Economic Ideas is currently edited by Riccardo Faucci, Nicola Giocoli, Roberto Marchionatti

More articles in History of Economic Ideas from Fabrizio Serra Editore, Pisa - Roma
Bibliographic data for series maintained by Mario Aldo Cedrini ().

Page updated 2023-06-15
Handle: RePEc:hid:journl:v:23:y:2015:1:5:p:77-100