caa a22 4500 388040726 CHVBK 20180307125020.0 cr unu---uuuuu 161130e199809 xx s 000 0 eng 10.1017/S1053837200002170 doi S1053837200002170 pii (NATIONALLICENCE)cambridge-10.1017/S1053837200002170 Gunning J. Patrick H. J. Davenport's Loan Fund Theory of Capital [Elektronische Daten] [J. Patrick Gunning] The loan fund theory of capital was developed by the unheralded American economist, Herbert J. Davenport (1861-1931). Davenport's name has virtually disappeared from writings on the history of economic thought. Today, he seems best known as a teacher of Frank Knight at Cornell around 1915. Davenport wrote three major books during an 18-year period between 1896 and 1914. The first (1896) was a treatise based on what he called the "principle of sacrifice,” or subjective opportunity cost. His second book, Value and Distribution (1908), covered much of the same ground but also presented some original contributions. It marked his emergence as a professional economist, since he presented his ideas within the context of an appraisal of classical and neoclassical economic doctrine. Among other things, the book contained a penetrating, subjectivist critique of four ideas in the history of subjectivist economics: marginal utility, Eugen von Bohm-Bawerk's theory of capital, Friedrich Wieser's theory of cost, and Frank Fetter's theory of market interest. It also introduced the loan fund theory of capital, which is the topic of this paper. Copyright © Cambridge University Press 1998 Journal of the History of Economic Thought Cambridge University Press 20/3(1998-09), 349-369 1053-8372 20:3<349 1998 20 HET https://doi.org/10.1017/S1053837200002170 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S1053837200002170 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Gunning J. Patrick NATIONALLICENCE 773 0- Journal of the History of Economic Thought Cambridge University Press 20/3(1998-09), 349-369 1053-8372 20:3<349 1998 20 HET CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge