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Hayek Et Knight (1933-1936). La Controverse Sur Le Capital

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  • Stéphane LONGUET

Abstract

In 1933, Knight launched a violent attack against the Austrian theory of capital. Beyond an apparent opposition on the average period of production, the conflict concerns more profoundly the capacity of the Austrian theory to ground a general theory of production and to build on a dynamic theory, which was Hayek’s theoretical project. The paper tries to explain why this polemic reveals the weaknesses of Hayek’s economic theory.

Suggested Citation

  • Stéphane LONGUET, 2006. "Hayek Et Knight (1933-1936). La Controverse Sur Le Capital," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 51, pages 177-195.
    • Handle: RePEc:cpo:journl:y:2006:i:51:p:177-195
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    More about this item

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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