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Produced throughout the first fifteen years of Hayekâs career, the writings collected in Capital and Interest see Hayek elaborate upon and extend his landmark lectures that were published as Prices and Production and work toward the technically sophisticated line of thought seen in his later Pure Theory of Capital. Illuminating the development of Hayekâs detailed contributions to capital and interest theory, the collection also sheds light on how Hayekâs work related to other influential economists of the time. Highlights include the 1936 article âThe Mythology of Capitalââpresented here alongside Frank Knightâs criticisms of the Austrian theory of capital that prompted itâand âThe Maintenance of Capital,â with subsequent comments by the English economist A. C. Pigou. These and other familiar works are accompanied by lesser-known articles and lectures, including a lecture on technological progress and excess capacity. An introduction by the bookâs editor, leading Hayek scholar Lawrence H. White, places Hayekâs contributions in careful historical context, with ample footnotes and citations for further reading, making this a touchstone addition to the University of Chicago Pressâs Collected Works of F. A. Hayek series. |
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