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Building as an economic process: the Austrian approach revisited

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  • Gerard De Valence

Abstract

Bon's book Building as an Economic Process: An Introduction to Building Economics was an important step in the development of the economic theory of the built environment. The book's aim was to establish theoretical foundations for building economics, using the perspective of Austrian economics. The objective of this review is to assess the significance and impact of the book, and how successful Bon was in achieving his stated purpose. Each of the major topics in the book is discussed, with the Austrian approach as used by Bon on capital theory, the building process, and business and building cycles assessed. Bon proposed a significant research programme based on these ideas. The impact of the ideas is discussed before progress on the research programme is reviewed. The conclusion attempts to bring out the significance of the book's contribution.

Suggested Citation

  • Gerard De Valence, 2006. "Building as an economic process: the Austrian approach revisited," Construction Management and Economics, Taylor & Francis Journals, vol. 24(7), pages 767-771.
  • Handle: RePEc:taf:conmgt:v:24:y:2006:i:7:p:767-771
    DOI: 10.1080/01446190600601859
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    References listed on IDEAS

    as
    1. Ranko Bon, 2001. "The future of building economics: a note," Construction Management and Economics, Taylor & Francis Journals, vol. 19(3), pages 255-258.
    2. Danny Myers, 2003. "The future of construction economics as an academic discipline," Construction Management and Economics, Taylor & Francis Journals, vol. 21(2), pages 103-106.
    3. Roberto Pietroforte & Ranko Bon, 1999. "The Italian residential construction sector: an input-output historical analysis," Construction Management and Economics, Taylor & Francis Journals, vol. 17(3), pages 297-303.
    Full references (including those not matched with items on IDEAS)

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