ABSTRACT
In 1973 Sir John Hicks published Capital and Time: A Neo-Austrian Theory. This was his third book with the word ‘Capital’ in its title, the first being his classic Value and Capital (1939) and the second being Capital and Growth (1965). It departed significantly from his earlier work by assuming that the technology of an economy consisted of a set of neo-Austrian production processes in which a time sequence of inputs {at} produces a time sequence of outputs {bt}.
