“Lastly, the Socialist or Exploitation theory, which makes interest simply a gain from exploited labour, is shown to be a theory which could only arise on the negative basis of the unsatisfactory accounts hitherto given, and on the positive basis of a mistaken value theory. When an income obtained without work and without risk was claimed as the reward of abstinence, and when all value was ascribed to the action of material labourers, it was inevitable that there should rise a reactionary theory proving that interest was robbery. Thus the board was swept clean for the Positive Theory.
“And now to finish. On a former occasion, at the end of the historical part of my work, I laid down the programme for my positive theory in the following words.—"To find for the vexed problem a solution which invents nothing and assumes nothing, but simply and truly attempts to deduce the phenomena of the formation of interest from the simplest natural and psychological principles of our science." I cannot wish more than the recognition that, in the carrying out of the work, I have been true to my programme. For if, through logically developing the elementary theory of value, I have succeeded in obtaining the explanation of interest, it will give the strongest security that could be wished that we are moving on the right lines with two theories, that of value and that of capital.
困惑中求教Jeffery Tuck教授如下： I do have a question regarding Bohm-Bawerk's book,The Positive Theory of Capital, and want to ask your opinion. In early 1960s, Bohm-Bawerk's book was translated into Chinese by a Marxism theorist. He translate positive as positivist in Chinese. As I go through the translation, I found everywhere in the book where it mentioned positive theory, the translation was always "positivist theory". However, when looking at the English translation, it clearly showed positive theory was used as the opposite of negative(exploitation) theory as defined by Karl Marx. I was very confused and want to ask for your clarification. Bohm-Bawerk's The Positive Theory of Capital had nothing to do with Positivist theory, right?
After Murray Rothbard finished his theoretical magnum opus - Man, Economy, and State - he turned his attention away from pure positive theory toward dealing with the opposition to Austrian theory. The result was a long series of fantastic scholarly articles taking on every error of the day, and our day too.