ABSTRACT
I. Professor Knight's argument, 119. — II. On some current misconceptions: 1. The investment periods and technological progress, 123; 2. They refer to factors, not products, 123; 3. The aggregate of such periods cannot be reduced to an average, nor is measurability essential, 124; 4. The periods refer always to the future, never to the past, 125; 5. The concept does not depend on a distinction between original and produced means of production, 126; 6. Nor is it only the original means of production whose investment periods can be changed, 127. — III. Professor Knight's criticism based on a misunderstanding, 127. — IV. His own position prevents him from giving any explanation of how the limitation of capital restricts the increase of output, 130. —V. An erroneous assertion following from his fundamental position: the value of capital goods when interest disappears, 136. — VI. Problems of capital and ''perfect foresight," 138.
