Published online by Cambridge University Press: 04 March 2014
Endres and Harper (2011) maintain that, within the Austrian tradition of capital theory, Carl Menger and Ludwig M. Lachmann form a distinguishable trajectory. Both these authors, they argue, consider capital as a heterogeneous structure of higher-order goods. In this comment, it is demonstrated that the opposite is true. Menger and Lachmann endorsed contrasting views on the nature of capital. Whereas Lachmann indeed adhered to a heterogeneous capital concept, Menger considered capital to be a homogeneous concept employed in economic calculation.