Max

Knight's 1921 treatise shows how measurable risk becomes a pooled cost while uncertainty, borne through responsible judgment, generates profit and loss.

Kirzner treats capital goods as interim results of multi-period plans, clarifying waiting, durability, valuation and measurement for advanced capital theory readers.

Lachmann explains how entrepreneurs build, test, and regroup specialized capital combinations, connecting expectations, accounts, finance, and business cycles through structural analysis.

Peter Lewin treats capital as a changing structure of complementary plans and capabilities, linking interest, firms, money, accounting and human capital.

Klein's essays combine Austrian capital theory with transaction-cost economics to explain how owners organize firms, commit resources and delegate under uncertainty.

Rothbard deduces prices, money, interest, profit and business cycles from purposeful action, then traces how coercive intervention disrupts voluntary market coordination.

Murphy's introductory textbook derives specialization, saving, profit, calculation, price controls and business cycles from purposeful choice, counting forgone alternatives as costs.