ABSTRACT
The controversy about the modern, Böhm-Bawerk capital theory appears highly reluctant to come to an end. Of course, it is not surprising that older economists, brought up as they were in completely different systems, have only unwillingly and hesitatingly acquired this new approach. But one would think that the younger generation of economists might be more interested in elaborating on the grounds already established — which is certainly not the same as uncritically accepting all of the details in Böhm-Bawerk's presentation — than in wasting time and energy on rather futile attempts to overthrow their very foundations. A priori it is still somewhat improbable that when an author who is generally recognized, even by his opponents, as one of the most astute thinkers of our time, devotes years of his life to studying a particular scientific issue, the result of his work is such that its principal points could justifiably be regarded as ‘meaningless’, ‘unsuccessful’, ‘of little value’, etc. Nevertheless, the criticism continues, also from the younger generation, with undiminished intensity or at least vehemence. For every single upholder of B.-B.'s foundations, there are readily ten subversives.
