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Austrian School
Principal works Capital and Interest Human Action Individualism and Economic Order Man, Economy, and State Principles of Economics
Origins School of Salamanca Classical economics French liberal school School of Brentano Methodenstreit
Theories and ideologies Austrian business cycle Catallactics Creative destruction Economic calculation problem View of inflation Right-libertarianism Libertarianism in the United States Malinvestment Marginalism Methodological individualism Praxeology Roundaboutness Spontaneous order Subjective theory of value Theory of interest
Organizations, universities, and think tanks Cato Institute University of Chicago George Mason University Foundation for Economic Education The Independent Institute Liberty Fund Mises Institute Mercatus Center Property and Freedom Society Reason Foundation
People Böhm-Bawerk Block Boettke DiLorenzo Fetter Garrison Haberler Hayek Hazlitt Heydel Higgs Hoppe Horwitz Hülsmann Huerta de Soto Kirzner Lachmann Lavoie Leeson Machlup Menger Mises Morgenstern Murphy Peterson Rothbard Röpke Salerno Skousen Strigl Wieser
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Roundaboutness, or roundabout methods of production, is the process whereby capital goods are produced first and then, with the help of the capital goods, the desired consumer goods are produced.

An argument against Böhm-Bawerk's theory of roundaboutness, in economies with compound interest, was presented by Paul Samuelson during the Cambridge capital controversy.

The concept, interpreted as rising technical composition of capital, is also used by some Marxian authors.

References

1. Buechner, M. Northrup (1989). "Roundaboutness and Productivity in Böhm-Bawerk". Southern Economic Journal. 56 (2). Southern Economic Association: 499–510. ISSN 0038-4038. JSTOR 1059226. Retrieved 20 February 2022.
2. Samuelson, Paul A.(1966) "A Summing Up" Quarterly Journal of Economics 80:4, pp.568-583.
3. For example John R. Bell: Capitalism and the Dialectic - The Uno-Sekine Approach to Marxian Political Economy. London, New York 2009, p.106.

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