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The Paradox of Capital Theory is the Bohm-Bawerk-Type Economics Logically Inconsistent?


     

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The prototype of economics as revealed in general in the writings of Walras, Pareto, Wicksell, Hicks (prior to 'Capital and Growth'), Samuelson (of the 'Collected Scientific Papers'), and Joan Robinson (during the golden age of 'The Accumulation of Capital), conceives of the economic system as characterized by the existence of different consumption goods' mixes capable of yielding the same satisfaction flow and of different mixtures of techniques and production processes capable of producing the same bundles of goods. The linear approach postulates the simultaneous use of such diverse mixtures in an actual economic system.
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  • The Paradox of Capital Theory is the Bohm-Bawerk-Type Economics Logically Inconsistent?

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Abstract


The prototype of economics as revealed in general in the writings of Walras, Pareto, Wicksell, Hicks (prior to 'Capital and Growth'), Samuelson (of the 'Collected Scientific Papers'), and Joan Robinson (during the golden age of 'The Accumulation of Capital), conceives of the economic system as characterized by the existence of different consumption goods' mixes capable of yielding the same satisfaction flow and of different mixtures of techniques and production processes capable of producing the same bundles of goods. The linear approach postulates the simultaneous use of such diverse mixtures in an actual economic system.


DOI: https://doi.org/10.21648/arthavij%2F1968%2Fv10%2Fi2%2F116853