Bohm-Bawerk, Eugen von. The Positive Theory of Capital. 1888. (Macmillan. 1891.) 428 pp.
One of the most brilliant and original contributions - if not the most brilliant and original - ever made to the theory of capital and interest. Bohm-Bawerk, declares the Encyclopedia of the Social Sciences, "was at a very early age one of the first to accept the teaching of Karl Menger, giving all his powers to the development and the defense of the subjective theory of value: it is to him that both the success and the formulation og the theory are largely due." According to Frank W. Taussig, The Positive Theory of Capital "is a landmark in the development of thought. As an intellectual performance, there are few books on economics in any language that can be ranked with it. One may not agree with all that is said, but the book bears the unmistakable impression of a great mind."
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