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4 INTERPRETATIONS
intellectual property law. However, this increasingly distinguishes means of capital investment, and collection
of potential rewards for patent, copyright (creative or
individual capital), and trademark (social trust or social
capital) instruments.
3 Endowment
Economist Henry George argued that nancial instruments like stocks, bonds, mortgages, promissory notes, or
other certicates for transferring wealth is not really capital. Because Their economic value merely represents
the power of one class to appropriate the earnings of another. and their increase or decrease does not aect the
sum of wealth in the community.[9]
3
Some thinkers, such as Werner Sombart and Max Weber, locate the concept of capital as originating in doubleentry bookkeeping, which is thus a foundational innovation in capitalism, Sombart writing in Medieval and
Modern Commercial Enterprise that:[10]
The very concept of capital is derived from this
way of looking at things; one can say that capital, as a category, did not exist before doubleentry bookkeeping. Capital can be dened as
that amount of wealth which is used in making
prots and which enters into the accounts.
"ingenuity", "leadership", trained bodies, or innate skills that cannot reliably be reproduced by
using any combination of any of the others above.
In traditional economic analysis individual capital is
more usually called labour.
Instructional capital in the academic sense is clearly
separate from either individual persons or social
bonds between them.
Political economists Jonathan Nitzan and Shimshon Bichler have suggested that capital is not a productive entity,
but solely nancial and that capital values measure the
relative power of owners over the broad social processes
that bear on prots.[11]
5 See also
Capital deepening
Capitalist mode of production
Das Kapital
Means of production
Organic composition of capital
Organizational capital
The Accumulation of Capital
Venture capital
Wealth (economics)
6 References
[1] http://www.britannica.com/topic/capital-economics
Social capital is the value of network trusting relationships between individuals in an economy.
Individual capital, which is inherent in persons,
protected by societies, and trades labour for trust
or money. Close parallel concepts are "talent",
Further reading
Boldizzoni, F. (2008). chapters 4-8. Means and
ends: The idea of capital in the West, 1500-1970.
New York: Palgrave Macmillan.
Hennings, K.H. (1987). Capital as a factor of production. The New Palgrave: A Dictionary of Economics. v. 1. pp. 32733.
External links
Quotations related to Capital at Wikiquote
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