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Some Aspects of the Pure Theory of Capital


  • Paul A. Samuelson


Definition of an investment account, 469. — Relationships between capitalized value, depreciation, and income holding at all times under any rate of discount, 470. — Necessary equality between capital invested and value of investment account derived by capitalization, 474.— Definition and derivation of internal rate of interest; its relation to market rate, 475. — Identification under ideal conditions of market value of investment account with capitalized value, 477.— Problem of optimum determination of variables; maximization of internal rate vs. maximization of present value of assets, 478.— Demonstration that all principles remain invariant under a varying interest rate, 483.— Mathematical appendix I, 488,— Mathematical appendix II, 492.

Suggested Citation

  • Paul A. Samuelson, 1937. "Some Aspects of the Pure Theory of Capital," The Quarterly Journal of Economics, Oxford University Press, vol. 51(3), pages 469-496.
  • Handle: RePEc:oup:qjecon:v:51:y:1937:i:3:p:469-496.

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