Capital and Its Structure

        Capital and Its Structure                                    

Ludwig Lachmann in 1956 set out to correct the problem that the economics profession had no coherent and working understanding of capital, a concept so integral to economic science and yet not explored at length since the takeover of macroeconomics by Keynesian theory. Here he presents a robust theory of capital that incorporates an Austrian understanding of the business cycle and the market process. It remains a seminal study written while he was at the height of his intellectual powers