For a New Capital Theory. A Comment to Carmelo Ferlito’s Hermeneutical Approach

Carmelo Ferlito’s contribution to the theory of capital is very opportune, not only for the debate inside the Austrian School. The proposal to define capital and capital goods in radically subjectivist terms is original and very relevant in order to re-think economics as a science able to study the reality of the production processes. The main attempt of my comment is showing that Ferlito’s definition of capital is also coherent with a line of research proposed by Joan Robinson in different occasions but actually removed inside the so-called Cambridge tradition. Particularly the research questions about the notion of capital that we find in Mrs Robinson seem well suited with Carmelo Ferlito’s approach.