Peter Lewin is Professor of economics in the Naveen Jindal School of Management at the University of Texas at Dallas. Nicolás Cachanosky is Associate Professor of economics at the Metropolitan State University of Denver.

• PART I CAPITAL, PRODUCTION, AND TIME 1. Capital, Income, and the Time-Value of Money 2. Discount rates and time PART II HISTORY OF CAPITAL THEORY 3. Menger and Böhm-Bawerk: Foundations of Austrian Capital Theory 4. Hayek’s Capital Theory and Austrian Business Cycle Theory 5. Ludwig Lachmann and the Capital Structure 6. Ludwig von Mises and Capital from a Financial Perspective 7. John Hicks and Capital in the Aggregate Production Function PART III FINANCIAL APPLICATIONS 8. The EVA® Framework 9. EVA and Microeconomics 10. EVA and Macroeconomics 11. EVA and Institutions 12. Concluding Remarks 13. References

Peter Lewin is Professor of economics in the Naveen Jindal School of Management at the University of Texas at Dallas. Nicolás Cachanosky is Associate Professor of economics at the Metropolitan State University of Denver.

• PART I CAPITAL, PRODUCTION, AND TIME 1. Capital, Income, and the Time-Value of Money 2. Discount rates and time PART II HISTORY OF CAPITAL THEORY 3. Menger and Böhm-Bawerk: Foundations of Austrian Capital Theory 4. Hayek’s Capital Theory and Austrian Business Cycle Theory 5. Ludwig Lachmann and the Capital Structure 6. Ludwig von Mises and Capital from a Financial Perspective 7. John Hicks and Capital in the Aggregate Production Function PART III FINANCIAL APPLICATIONS 8. The EVA® Framework 9. EVA and Microeconomics 10. EVA and Macroeconomics 11. EVA and Institutions 12. Concluding Remarks 13. References

Peter Lewin is Professor of economics in the Naveen Jindal School of Management at the University of Texas at Dallas. Nicolás Cachanosky is Associate Professor of economics at the Metropolitan State University of Denver.

• PART I CAPITAL, PRODUCTION, AND TIME 1. Capital, Income, and the Time-Value of Money 2. Discount rates and time PART II HISTORY OF CAPITAL THEORY 3. Menger and Böhm-Bawerk: Foundations of Austrian Capital Theory 4. Hayek’s Capital Theory and Austrian Business Cycle Theory 5. Ludwig Lachmann and the Capital Structure 6. Ludwig von Mises and Capital from a Financial Perspective 7. John Hicks and Capital in the Aggregate Production Function PART III FINANCIAL APPLICATIONS 8. The EVA® Framework 9. EVA and Microeconomics 10. EVA and Macroeconomics 11. EVA and Institutions 12. Concluding Remarks 13. References