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The Contrasting Views of Menger and Böhm-Bawerk on Capital and Production

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Author Info
Jacques-Laurent RAVIX ()
Abstract

This paper proposes a reassessment of the well-known opposition between Menger and Böhm-Bawerk, generally presented as an opposition between a "subjectivist" view and a "materialist" view on capital and production. Using textual evidence, we argue that Böhm- Bawerk was a quasi-dogmatic follower of Menger in the description of capitalist economy as well as in the theory of value. In fact, Böhm-Bawerk tried to reconcile a pure theory of capital founded on a realistic vision of the time structure of production, with the theory of imputation of subjective values of consumer goods to capital goods. We show that, in doing so, Böhm-Bawerk reveals the basic contradictions of the Austrian methodology

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Article provided by Centre national de la recherche scientifique (CNRS), Paris in its journal Cahiers d'économie Politique.

Volume (Year): (2006)
Issue (Month): 51 ()
Pages: 157-176
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Handle: RePEc:cpo:journl:y:2006:i:51:p:157-156

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Find related papers by JEL classification:
B31 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - Individuals
B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian

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This page was last updated on 2009-12-2.

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