The Centrality of the “Capital Problem” in Questions about the Market’s Ability to Coordinate Economic Activities over Time

A decade after the London lectures the more complete exposition took form as The Pure Theory of Capital (1941). In this book Hayek fleshed out the earlier formulations and emphasized the centrality of the “capital problem” in questions about the market’s ability to coordinate economic activities over time. The “pure” in the title meant “preliminary to the introduction of monetary considerations.”

--Roger W. Garrison, Time and Money: The Macroeconomics of Capital Structure, Foundations of the Market Economy (London: Routledge, 2002), 11.