Source: Future of Freedom Foundation
by James Vermillion
“Böhm-Bawerk was a student of Carl Menger, the founder of the Austrian school of economics, and he became one of the tradition’s most formidable systematizers. His major work, Capital and Interest, published in three volumes between 1884 and 1921, remains one of the most ambitious attempts to explain why capital exists at all and why human beings bother to build tools, factories, institutions, and other intermediate goods when they could, in principle, simply apply their labor directly to the natural world and consume whatever comes out.” (03/02/26)