A Biography of A.R.J. Turgot – Part 4 – THE THEORY OF CAPITAL, ENTREPRENEURSHIP, SAVINGS, AND INTEREST

In the roster of Turgot’s outstanding contributions to economic theory, the most remarkable was his theory of capital and interest, which, in contrast to such fields as utility, sprang up virtually full-blown unrelated to preceding contributions. Not only that, but Turgot worked out almost completely the Austrian theory of capital and interest a century before […]