October, 2015

Some Implications of Capital Heterogeneity

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The following section briefly outlines Austrian capital theory. Sections that follow trace out the implications of capital heterogeneity in a variety of applied research areas. Socialist calculation, business cycles, economic development through the Solow model, World Bank aid for investment schemes, and industrial planning are all studied and the conclusions of the Austrian school are contrasted to those that are reached by theorists who fail to appreciate the importance of capital heterogeneity.

The Oxford Handbook of Austrian Economics is available through Oxford University Press. 

 

The following section briefly outlines Austrian capital theory. Sections
that follow trace out the implications of capital heterogeneity in a variety
of applied rt;search areas. Socialist calculation, business cycles, economic
development through the Solow model, World Bank aid for investment
schemes, and industrial planning are all studied and the conclusions of the
Austrian school are contrasted to those that are reached by theorists who

fail to appreciate the importance of capital heterogeneity.

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