Roundaboutness

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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.^[1]

An argument against Böhm-Bawerk's theory of roundaboutness, in economies with compound interest, was presented by Paul Samuelson^[2] during the Cambridge capital controversy.

The concept, interpreted as rising technical composition of capital, is also used by some Marxian authors.^[3]

References

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