One of Rothbard’s Greatest Accomplishments in Production Theory Was Integrating Temporal Production-Structure Analysis with Pure-Time-Preference Theory

In Man, Economy, and State, Rothbard elaborates a unified and systematic treatment of the structure of production, the theory of capital and interest, factor pricing, rent theory, and the role of entrepreneurship in production.... One of Rothbard’s greatest accomplishments in production theory was the development of a capital and interest theory that integrated the temporal production-structure analysis of Knut Wicksell and Hayek with the pure-time-preference theory expounded by Frank A. Fetter and Ludwig von Mises.

Although the roots of both of these strands of thought can be traced back to Böhm-Bawerk’s work, his exposition was confused and raised seemingly insoluble contradictions between the two. They were subsequently developed separately until Rothbard revealed their inherent logical connection.

--Joseph T. Salerno, introduction to the second edition of Man, Economy, and State with Power and Market, by Murray N. Rothbard (Auburn, AL: Ludwig von Mises Institute, 2009), xxvii.