In Volume III, Further Essays on Capital and Interest, the publisher collected additional explanations and commentaries by the author. It comprises fourteen brilliant briefs explaining, elaborating, and defending the Positive Theory. It contains such great essays as “The Role of Disutility in the Value Theory” and “The Size of the Initial Fund that is Necessary …

Boehm-Bawerk’s magnum opus, one of the greatest achievements in the history of economic thought. In fact, it is a Magna Carta of the capitalistic production process. In an economic order based on production, income from capital investment provides the very basis of the system and a livelihood for a large middle class, as well as …