The Pure Theory of Capital.

£1,250 · Offered by Maggs Bros Ltd

The culmination of Hayek’s work on capital theory and business cycle theory during the 1930s, being in his own words, a ‘highly abstract study of a problem of pure economic theory’ that attempts to establish the ‘fundamentals’ that must serve ‘more concrete work on the processes which we observe in the real world’ (p. v). Critical reception of the book was somewhat muted, stemming in part from accusations of obfuscation, but also owing to the overwhelming influence of the Keynesian revolution, a consensus that would be dramatically challenged with the publication of Hayek’s The Road to Serfdom three years later.

• Year: 1941

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