Capital and Interest. Volume 2. Positive Theory of Capital. Volume 3. Excursions

Eugen von Bhm-Bawerk - Austrian economist and statesman. Thrice was finance minister of the Austro-Hungarian Empire, was appointed chairman of the Supreme Court of Appeals, was elected president of the Academy of Sciences, he is a life member of the upper house of parliament. This edition includes the second and third volumes of the main theoretical work of the author, "Capital and interest" ("Positive Theory of Capital" and "excursion"). "Positive Theory of Capital" has a special place in the history of economic thought. Her appearance marked the end of the so-called marginal revolution - the transition from the classical political economy, based on the labor theory of value to the modern economic theory based on the subjective theory of value. Along with the additions and excursions book contains a full statement of the economic theory. Bhm-Bawerk integrated subjectivist theory of value and price (the foundations of which were laid by Carl Menger.