Economists have long disputed over the usefulness of the structure of production in the analysis of capital and interest. This important volume transcends this debate and brings a fresh new perspective to the structure of production by arguing that the concept plays a crucial role in resolving several vexed questions in monetary and macroeconomic theory and policy analysis. Even if the reader does not agree with Machaj on every issue, he or she will be stimulated to rethink the place of real capital in economic theory.