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| Format: | Artículo científico |
| Sprache: | en |
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Instituto Mises Brasil
2021
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| _version_ | 1866815187038765056 |
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| author | Samuel Fernandes Lucena Vaz-Curado |
| author_facet | Samuel Fernandes Lucena Vaz-Curado |
| contents | Carl Menger’s revisited theory of capital in opposition to the Classical and Marginalist scholars Samuel Fernandes Lucena Vaz-Curado Multidisciplinarias (Ciencias Sociales) Capital Theory Economic Calculation Marginalist Revolution History of Economic Thought Austrian School of Economics Among several contributions, Carl Menger proposed a division of economic goods in orders. This sets the foundations for the Austrian capital theory, usually maintained as a complex of higher orders goods in a production process. Curiously, Menger dismissed this concept of capital, in favor of one used in common parlance. This change of view is often overlooked, but represents a turning point in the field of capital theory. This paper assesses how Menger’s popular notion of capital differs from the scientific one. To achieve this goal, we investigate the concept of capital in Classical and Marginalist economists. One of the implications is that the popular concept is related to the theory of capitalism. Capital, as used in business language for economic calculations, is better suited for analyzing the capitalist system, as it captures the usage in monetary economies and business accounting. 2021 artículo científico 2318-0811 https://www.redalyc.org/articulo.oa?id=586370158007 https://www.redalyc.org/journal/5863/586370158007/ https://www.redalyc.org/journal/5863/586370158007/html/ https://www.redalyc.org/journal/5863/586370158007/586370158007.epub https://www.redalyc.org/journal/5863/586370158007/movil 10.30800/mises.2021.v9.1430 en http://www.redalyc.org/revista.oa?id=5863 MISES: Interdisciplinary Journal of Philosophy, Law and Economics application/pdf Instituto Mises Brasil MISES: Interdisciplinary Journal of Philosophy, Law and Economics (Brasil) Vol.9 |
| format | Artículo científico |
| id | redalyc_586370158007 |
| language | en |
| publishDate | 2021 |
| publisher | Instituto Mises Brasil |
| spellingShingle | Carl Menger’s revisited theory of capital in opposition to the Classical and Marginalist scholars Samuel Fernandes Lucena Vaz-Curado Multidisciplinarias (Ciencias Sociales) Capital Theory Economic Calculation Marginalist Revolution History of Economic Thought Austrian School of Economics Carl Menger’s revisited theory of capital in opposition to the Classical and Marginalist scholars Samuel Fernandes Lucena Vaz-Curado Multidisciplinarias (Ciencias Sociales) Capital Theory Economic Calculation Marginalist Revolution History of Economic Thought Austrian School of Economics Among several contributions, Carl Menger proposed a division of economic goods in orders. This sets the foundations for the Austrian capital theory, usually maintained as a complex of higher orders goods in a production process. Curiously, Menger dismissed this concept of capital, in favor of one used in common parlance. This change of view is often overlooked, but represents a turning point in the field of capital theory. This paper assesses how Menger’s popular notion of capital differs from the scientific one. To achieve this goal, we investigate the concept of capital in Classical and Marginalist economists. One of the implications is that the popular concept is related to the theory of capitalism. Capital, as used in business language for economic calculations, is better suited for analyzing the capitalist system, as it captures the usage in monetary economies and business accounting. 2021 artículo científico 2318-0811 https://www.redalyc.org/articulo.oa?id=586370158007 https://www.redalyc.org/journal/5863/586370158007/ https://www.redalyc.org/journal/5863/586370158007/html/ https://www.redalyc.org/journal/5863/586370158007/586370158007.epub https://www.redalyc.org/journal/5863/586370158007/movil 10.30800/mises.2021.v9.1430 en http://www.redalyc.org/revista.oa?id=5863 MISES: Interdisciplinary Journal of Philosophy, Law and Economics application/pdf Instituto Mises Brasil MISES: Interdisciplinary Journal of Philosophy, Law and Economics (Brasil) Vol.9 |
| title | Carl Menger’s revisited theory of capital in opposition to the Classical and Marginalist scholars |
| topic | Multidisciplinarias (Ciencias Sociales) Capital Theory Economic Calculation Marginalist Revolution History of Economic Thought Austrian School of Economics |
| url | https://www.redalyc.org/articulo.oa?id=586370158007 https://www.redalyc.org/journal/5863/586370158007/ https://www.redalyc.org/journal/5863/586370158007/html/ https://www.redalyc.org/journal/5863/586370158007/586370158007.epub https://www.redalyc.org/journal/5863/586370158007/movil |