Understanding Capitalism from the Evolution of Capital Theory


Conferees explored the evolution of capital theory and how we can advance our knowledge of a capitalist society using the debates about the theory of capital.


Conference Readings

Böhm-Bawerk, Eugen von. Capital and Interest: A Critical History of Economic Theory. Translated by William A. Smart. London: Macmillan, 1890.

Böhm-Bawerk, Eugen von. The Positive Theory of Capital. Translated by William Smart. New York: G. E. Stechert, 1930.

Hodgskin, Thomas. Popular Political Economy. Four lectures delivered at the London Mechanics Institution. London: Charles and William Tait, 1827.

Keynes, John Maynard. The General Theory of Employment, Interest, and Money. Amherst: Prometheus Books, 1997.

Kirzner, Israel M. Essays on Capital and Interest: An Austrian Perspective. Edited by Peter J. Boettke and Frédéric Sautet. Indianapolis: Liberty Fund, 2010.

Marx, Karl. Capital: A Critique of Political Economy, Volume I, The Process of Capitalist Production. Edited by Frederick Engels and Ernest Untermann. Translated by Samuel Moore and Edward Aveling. Chicago: Charles H. Kerr and Co., 1906.

Menger, Carl. Principles of Economics. Translated by James Dingwall and Bert F. Hoselitz. Grove City: Libertarian Press, Inc., 1994.

Piketty, Thomas. Capital in the Twenty-First Century. Translated by Arthur Goldhammer. Cambridge: The Belknap Press of Harvard University Press, 2014.

Ricardo, David. The Works and Correspondence of David Ricardo, Volume 1: On the Principles of Political Economy and Taxation. Edited by Piero Sraffa with the collaboration of M. H. Dobb. Indianapolis: Liberty Fund, 2004.

Robinson, Joan. “The Production Function and the Theory of Capital.” Review of Economic Studies 21 (1953): 81-106.

Samuelson, Paul. “Parable and Realism in Capital Theory: The Surrogate Production Function.” Review of Economic Studies 29 (June 1962): 193-206.

Say, Jean-Baptiste. A Treatise of Political Economy. Philadelphia: Lippincott, Gambo & Co., 1855. (accessed 2/23/2010).

Sen, Amartya. “On Some Debates in Capital Theories.” Economica 41, no. 163 (August 1974): 328-335.

Senior, Nassau William. Political Economy. London: Richard Griffin and Co., 1854.

Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. Edited by R. H. Campbell, A. S. Skinner, and W. B. Todd. Indianapolis: Liberty Fund, 1981.

Turgot, Anne-Robert Jacques. Reflection on the Formation and Distribution of Riches. Translated by William J. Ashley. New York: The Macmillan Co., 1898.

Wieser, Friedrich von. Natural Value. Translated by William Smart. London: Macmillan, 1893.