Böcker av Eugen Von Bohm-Bawerk

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This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Introduction, The problem of Interest, The Development of the problem, The opposition to interest in classical and Mediaeval times, The defence of interest from the sixteenth till the eighteenth century, Turgot's Fructification theory, Adam Smith and the development of the problem, The colourless theories, The productivity theories, The productive power of capital, The native productivity theories, The indirect productivity theories, The use theories, The use of capital, Historical statement, Plan of criticism, The use of capital according to the Say-Hermann school, The True conception of the use of Goods, Criticism of the say-Hermann conception, The Independent use: An unproved assumption, The Independent use: its untenable conclusions, The Independent use: its origin in legal fiction, Menger's conception of use, Final insufficiency of the use theory, The Abstinence theory, Senior's statement of the theory, Criticism of senior, Bastiat's statement, The labour theories, These theories agree in explaining interest as wage of the capitalist's labour, The english group, The French Group, The German Group, The Exploitation theory, Historical survey, Marx, Minor systems, The eclectics, The later Fructification theory,

Eugen Von Böhm-Bawerk, economist of the Austrian school, wrote this incisive critique of Marxist economics amid rising public support for socialism, communism and state-controlled markets in Europe.Published in 1896, this work criticizes Marxist theory from two angles: firstly, that the notion of value which Marx puts forward contradict his own ideas. The author asserts that the link between the price of producing goods and the value produced by labor are not consistently dealt with in Marx's works. This inconsistency in assigning value to economic production leads onto the second critique:Supply and demand is a theory whereby an equilibrium between goods supplied to a market and goods demanded by consumers in said market is established, with changes in the quantity or price of a good being in reaction to demand. Böhm-Bawerk discusses how Marx underestimates this law, and how his lack of appreciation for an economy which flexibly meets the shifting demands of consumers undermines his notions of price and value. From the perspective of a free market capitalist, Marxist theory is inadequate and insufficient as a system of economics.

Eugen von Böhm-Bawerk discusses the history and principles of interest, offering piercing critiques of failed theories and implementations from past eras.The author's investigations range as far back as antiquity and the Middle Ages; how civilizations of old dealt - or failed to deal - with interest in concept and practice. Interest is earned on existing capital, without the owner of said capital engaging in work or activity, an example being money invested in government bonds. Why this income should exist is the initial question posed, and an answer is sought through investigating several facets of the economy.Böhm-Bawerk's thesis is lengthy and meticulous, ranging across theories of production, the uses with which capital can be employed, the relevance of labor and ideas put across by scholars. He investigates the relationship of interest to debt, exploring whether interest itself is a rent on capital, and what this means in the short and long term. The author is keen to address and debunk ideas, such as the Marxist notion that the interest earned with capital is a manifestation of worker exploitation.Published in the 1880s, Böhm-Bawerk's work was among the first to tackle the subject of interest while recognizing the significance of interest rates in the modern economy. His ideas would go on to inspire future works in the Austrian School of economics, influencing later thinkers such as Friedrich Hayek who elaborated upon related economic topics.