Ludwig Von Mises's Approach to Capital as a Bridge between Austrian and Institutional Economics

Journal of Institutional Economics, 2016, Vol. 12, No. 4: 847-866

18 Pages Posted: 18 Mar 2016 Last revised: 14 Jan 2017

See all articles by Eduard Braun

Eduard Braun

Clausthal University of Technology

Peter Lewin

University of Texas at Dallas - School of Management - Department of Finance & Managerial Economics

Nicolas Cachanosky

The University of Texas at El Paso; American Institute for Economic Research; UCEMA Friedman-Hayek Center for the Study of a Free Society

Date Written: March 16, 2016

Abstract

Ludwig von Mises seems to be something of an outlier within the Austrian school when it comes to capital – though his position is clearly foreshadowed in a neglected article by Carl Menger (1888). In this paper we examine Mises’s view on capital and suggest that it constitutes a bridge between Austrian and institutional economics. As an outflow of Mises’s approach, an incipient financial approach may be discerned, an approach to capital that integrates concepts from financial theory into a broader view of capital that contains both institutional and Austrian elements.

Keywords: Theory of capital; Capitalism; Historically specific institutions; Monetary calculation

JEL Classification: B52, B53, D24, P10

Suggested Citation

Braun, Eduard and Lewin, Peter and Cachanosky, Nicolas, Ludwig Von Mises's Approach to Capital as a Bridge between Austrian and Institutional Economics (March 16, 2016). Journal of Institutional Economics, 2016, Vol. 12, No. 4: 847-866, Available at SSRN: https://ssrn.com/abstract=2748937 or http://dx.doi.org/10.2139/ssrn.2748937

Eduard Braun (Contact Author)

Clausthal University of Technology ( email )

Julius-Albert-Str. 2
Clausthal
Germany

Peter Lewin

University of Texas at Dallas - School of Management - Department of Finance & Managerial Economics ( email )

2601 North Floyd Road
P.O. Box 830688
Richardson, TX 75083
United States

Nicolas Cachanosky

The University of Texas at El Paso

500 West University Avenue
El Paso, TX 79968
United States

HOME PAGE: http://https://www.utep.edu/

American Institute for Economic Research

PO Box 1000
Great Barrington, MA 01230
United States

UCEMA Friedman-Hayek Center for the Study of a Free Society ( email )

Buenos Aires
Argentina

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
294
Abstract Views
1,885
Rank
188,937
PlumX Metrics