From The Art and Popular Culture Encyclopedia
"Capital is dead labour which, vampire-like, lives only by sucking living labour… By incorporating living labour-power into the material constituents of capital, the latter becomes an animated monster."--Das Kapital (1867) by Karl Marx
"Fourier’s socialistic system is not so pure a form of socialism as that of Saint-Simon, inasmuch as he retained private capital and, temporarily at least, inheritance." --French and German Socialism in Modern Times (1883) by Richard Theodore Ely
In neoclassical economics, capital, capital goods, or real capital are the factor of production, used to create goods or services, that is not itself significantly consumed (though it may depreciate) in the production process. Capital goods may be acquired with money or financial capital. At any moment in time, total physical capital may be referred to as the capital stock, a usage different from the same term applied to a business entity. In a fundamental sense, capital consists of anything that can enhance a person's power to perform economically useful work - a stone or an arrow is capital for a caveman who can use it as a hunting instrument, and roads are capital for inhabitants of a city. As such, capital is an input in the production function.
In classical political economy and Marxian economics, capital is money which is used to buy something only in order to sell it again, and thus capital only exists within the process of economic exchange - it is wealth that grows out of the process of circulation itself and forms the basis of the economic system of capitalism.
- Capital deepening
- Capital accumulation
- Capitalist mode of production
- Factors of production
- Physical capital
- Means of production
- Venture capital
- Wealth (economics)