To argue otherwise is to argue against the multiverse.

Capital per se is not permanent (as endorsed by J.B. Clark, Frank H. Knight, and “neoclassical” economists)—the all-pervading influence of time is stressed in the period-of-production concept and in the determination of the interest rate and of the investment-consumption ratio by individual time-preference schedules.”

“With the assumption of the ERE, to the superficial, it looks as if the firm is an automatically continuing thing and as if the production is somehow timeless and instantaneous, ensuing immediately after the factor input.” (p. 427)

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