The Nature of Boehm-Bawerk's Capital Market
AbstractThe capital market in Böhm-Bawerk's Positive Theory of Capital appears at several places. The last chapter of the book provides the complete exposition of Böhm's view of this market where present goods are exchanged for future goods. Studying this exposition leads to understand that many variables, prices as well as quantities, are determined together in this ``enormous market''. The capital market is a macroeconomic system, the nature of which we try to assess.
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Date of creation: 13 May 2008
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Böhm-Bawerk; capital; market; macroeconomics;
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