English, Article edition: The Contrasting Views of Menger and Böhm-Bawerk on Capital and Production Jacques-Laurent RAVIX

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Physical Description
  • article
Language
  • English

Edition details

Title
  • The Contrasting Views of Menger and Böhm-Bawerk on Capital and Production
Author
  • Jacques-Laurent RAVIX
Physical Description
  • article
Notes
  • This paper proposes a reassessment of the well-known opposition between Menger and Böhm-Bawerk, generally presented as an opposition between a "subjectivist" view and a "materialist" view on capital and production. Using textual evidence, we argue that Böhm- Bawerk was a quasi-dogmatic follower of Menger in the description of capitalist economy as well as in the theory of value. In fact, Böhm-Bawerk tried to reconcile a pure theory of capital founded on a realistic vision of the time structure of production, with the theory of imputation of subjective values of consumer goods to capital goods. We show that, in doing so, Böhm-Bawerk reveals the basic contradictions of the Austrian methodology
  • RePEc:cpo:journl:y:2006:i:51:p:157-156
Language
  • English
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