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Collection: IHS Studies in Economic Theory
Subject Area: Economics

Ludwig M. Lachmann, Capital and its Structure [1956]

Edition used:

Capital and its Structure (Kansas City: Sheed Andrews and McMeel, 1978).


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About this title:

A reprint of Lachmann’s 1956 classic of Austrian capital theory in which he draws upon the work of Carl Menger, Frank Knight and Friedrich Hayek. In this book Lachmann shows how firms invest to position capital goods with one another, thus creating the complex capital structure. He shows how capital formation and adjustment is a continuous transformation which is immensely complex in its combinations and heterogeneous flow, and how it is capable of co-ordinating the ever-changing plans of individual participants.

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