Knut Wicksell is acknowledged to be the precursor and prophet of modern macroeconomic theory and he provided some of its chief elements a generation before their power and significance were properly recognized. This book, originally published in German in 1893 and in English in 1954 brought time into the previously timeless theory of value and income distribution. The theory of the real interest rate, which he developed in Value, Capital and Rent became a central and essential element when he began to explain what determines the general level of money prices and how the changes of this level come about.
- ISBN13 9781315438474
- Publish Date 10 November 2016 (first published December 1954)
- Publish Status Active
- Publish Country GB
- Publisher Taylor & Francis Ltd
- Imprint Routledge
- Format eBook (EPUB)
- Pages 178
- Language English