Property Rights, Consumption and the Market Process extends property rights theory in new and exciting directions by combining complementary insights from Austrian, institutional and evolutionary economics. Mainstream economics tends to analyse property rights within a static equilibrium...

In this challenging book, the authors demonstrate that economists tend to misunderstand capital. Frank Knight was an exception, as he argued that because all resources are more or less durable and have uncertain future uses they can consequently be classed as capital. Thus, capital rather than...

Contents: 1. Time and space ;an introduction -- 2. Time and capital in economic doctrines -- 3. Space in economic analysis ; from discrete to two-dimensional -- Continuous theory -- 4. Dynamic theories and models ; problems and creative potential -- 5. Time in the microeconomics of consumption...