Value, Capital, and Rent

Swedish economist Knut Wicksell was an important thinker in the Mengerian marginalist tradition. Value, Capital, and Rent is his detailed commentary on and elaboration of the capital theory of Eugen von Böhm-Bawerk.

First published in 1893, it did not appear in English for another 60 years. But its appearance filled a significant gap in the history of economic ideas. Here he further defends the relationship between the natural rate of interest and the return on capital, siding strongly with the Mengerians against the Walrasian branch of marginalism.

This work is essential for any student of Austrian capital theory. Wicksell's rigor and attention to detail is impressive by any standard.