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)
Related:
- Never disregard time:
- 13-3 All action must take place in time
- 13-3a The use of the mathematical concept of function in a science of human action is inappropriate—because it disregards time and knowledge creation (i.e., the multiverse)
- 13-3b All the decisions to supply present goods on the present-future market to provide for the maintenance of the capital structure must be considered—various intercapitalist transactions cannot be netted out as duplications
- 13-4b The multiverse implies the scarcity of time in each universe
- 13-4d Space and time are scarce for the individual, hence both are goods
- However, Rothbardian account of “humans” in the evenly rotating economy (ERE) implies mere automata and disregards human ability to create knowledge: