Die reine Theorie des Kapitals

In this work, which is presented in German for the first time and which Hayek published in 1941 while he was teaching at the London School of Economics, he develops - based on the 'Austrian' tradition - a three-dimensional idea of capital by analyzing possible variations of the input-output structure of production and outlines the nonmonetary fundamentals of establishing interest rates. This book deals with a central issue in an international discussion on concepts of the theory of capital, a discussion which began almost a century ago. In the present-day world, Hayek's theory would provide a very suitable method for investigating problems, especially those of human capital. In the afterword, Erich W. Streissler takes a critical look at Hayek's assumptions and establishes the position of this work in the context of the history of theories. This volume has been translated into German so that the German edition of Hayek's works will be complete.