The Pure Theory of Capital

                                           

The Pure Theory of Capital

The greatest failing of non-Austrians theories of macroeconomics, it's been said, is that they lack a robust theory of capital. F.A. Hayek sought to fill out the theory of the business cycle with an impenetrable one, and the result was this remarkable 1941 treatise. It took him many years to write. It is surely his most detailed work in economic theory