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THE MENGER–LACHMANN TRAJECTORY ON CAPITAL: A COMMENT ON ENDRES AND HARPER

Published online by Cambridge University Press:  04 March 2014

Eduard Braun
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Abstract

Endres and Harper (2011) maintain that, within the Austrian tradition of capital theory, Carl Menger and Ludwig M. Lachmann form a distinguishable trajectory. Both these authors, they argue, consider capital as a heterogeneous structure of higher-order goods. In this comment, it is demonstrated that the opposite is true. Menger and Lachmann endorsed contrasting views on the nature of capital. Whereas Lachmann indeed adhered to a heterogeneous capital concept, Menger considered capital to be a homogeneous concept employed in economic calculation.

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Articles
Information
Journal of the History of Economic Thought , Volume 36 , Issue 1 , March 2014 , pp. 97 - 102
Copyright
Copyright © The History of Economics Society 2014 

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References

REFERENCES

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