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Executed by Charles Sekretanom, has appeared the same year in Revue d'Economie
Politique, "Contribution a la theorie du capital"].
Abundantly clear that the article has appeared because of disagreement of Mengera with
Definition of the term "capital" in the first, historical part of work Bitm-Baverka
"Principal and interest". Consideration has no polemic character. The book
Bitm-Baverka it is mentioned only with a praise. The main objective - to protect
The abstract concept of the capital (monetary value of the property,
Intended for accumulation) against Smith's concept (the made means
Productions). Main argument that from the economic point of view has no
Significances history of an origin of the blessings, also as necessity underlining
Clearly to distinguish between the rent which is created by already existing means
Productions, and actually in percent, - concerns by the time of, which up to
Till today has not involved a proper attention. [About treatment of the capital at
Bitm-Baverka Ludwig a background of Mizes, Human Action:A Treatise on Economics (third see
revised edition, Chicago: H. Regnery, 1966), pp. 479 - 489; Ludwig M. Lachman,
Capital and its Structure (London: Bell, 1956; reprinted, Kansas City, Mo.:
Sheed Andrews AND Mcmmel, 1978), pp. 81 - 85; Roger W. Garrison, "A Subjectivist
Theory of a Capital-Using Economy ", in Gerald P. O'Driscoll and Mario J.
Rizzo, The Economics of Time and Ignorance (Oxford and New York: Basil
Blackwell, 1985), pp. 160 - 187, esp. pp. 181 - 184. - it. It.]
Approximately during the same time, in 1889 friends have almost convinced Mengera not
To postpone the publication of new edition Grundsatze. But though he even has written
The preface to the new edition (endurances from which almost in thirty years
Have been published by his son as the preface to the second edition [Carl Menger,
Grundsatze der Volkswirtschaftslehre, zweite Auflage, mit einem Geleitwort von
Richard Schuller, aus dem Nachlas herausgeben von Karl Menger (Vienna and
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