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

Metropolitan State University of Denver; American Institute for Economic Research

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

Metropolitan State University of Denver ( email )

Student Success Building
890 Auraria Pkwy #310
Denver, CO 80217
United States

HOME PAGE: http://www.ncachanosky.edu

American Institute for Economic Research

PO Box 1000
Great Barrington, MA 01230
United States

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