ABSTRACT
Capital and Time came out in 1973 providing a systematic treatment of an issue already touched upon in those years in scattered contributions.1
The central issue of this book and of these contributions is a neo-Austrian representation of the process of production and its far-reaching analytical implications. It is a fundamental step of a long-dating research programme on economic dynamics starting from the second part of Value and Capital and pursued going through a definition of the concept of capital, and of the role of money, suited to the task. Capital and Time adds the essential focus on production to this programme. Although its analysis is carried out in real terms, it provides (as it will be shown in this chapter) the convenient analytical framework for stressing the essential role of money in dynamic economic processes.
