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Capital (economics)

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In economics, capital consists of an asset that can enhance one's power to perform economically useful work. [1]

90 relations: Adam Smith, Aptitude, Austrian School, Cambridge capital controversy, Capital accumulation, Capital asset, Capital deepening, Capital good, Capital intensity, Capitalism, Capitalist mode of production (Marxist theory), Circulating capital, Classical economics, Consensus decision-making, Constant capital, Copyright, Das Kapital, David Ricardo, Depreciation, Double-entry bookkeeping system, Durable good, Ecological economics, Economics, Economics (textbook), Entrepreneurship, Eugen Böhm von Bawerk, Factors of production, Fictitious capital, Financial capital, Fixed capital, Goods, Goodwill (accounting), Green economy, Henry George, Human capital, Human development (humanity), Individual capital, Infrastructure, Ingenuity, Instructional capital, Intangibles, Intellectual capital, Intellectual property, Intermediate good, Investment, Joan Robinson, John Maynard Keynes, Jonathan Nitzan, Karl Marx, Knowledge, ..., Knowledge management, Labor theory of value, Labour economics, Land (economics), Leadership, Marxian economics, Max Weber, Means of production, Natural capital, Neoclassical economics, Non-renewable resource, Organic composition of capital, Organizational capital, Paper wealth, Patent, Paul Samuelson, Physical capital, Piero Sraffa, Production (economics), Production function, Public capital, Replacement value, Roundaboutness, Saving, Service (economics), Shimshon Bichler, Skill, Social capital, Stock, Stock and flow, Surplus value, The Accumulation of Capital, The New Palgrave Dictionary of Economics, Trademark, Triple bottom line, Venture capital, Wealth, Welfare economics, Werner Sombart, William Nordhaus. Expand index (40 more) »

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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Aptitude

An aptitude is a component of a competence to do a certain kind of work at a certain level.

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Austrian School

The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.

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Cambridge capital controversy

The Cambridge capital controversy – sometimes called "the capital controversy"Brems (1975) pp.

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Capital accumulation

Capital accumulation (also termed the accumulation of capital) is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains.

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Capital asset

A capital asset is defined to include property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession.

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Capital deepening

Capital deepening is a situation where the capital per worker is increasing in the economy.

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Capital good

A capital good is a durable good (one that does not quickly wear out) that is used in the production of goods or services.

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Capital intensity

Capital intensity is the amount of fixed or real capital present in relation to other factors of production, especially labor.

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Capitalism

Capitalism is an economic system based upon private ownership of the means of production and their operation for profit.

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Capitalist mode of production (Marxist theory)

In Karl Marx's critique of political economy and subsequent Marxian analyses, the capitalist mode of production refers to the systems of organizing production and distribution within capitalist societies.

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Circulating capital

Circulating capital includes intermediate goods and operating expenses, i.e., short-lived items that are used in production and used up in the process of creating other goods or services.

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Classical economics

Classical economics or classical political economy (also known as liberal economics) is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century.

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Consensus decision-making

Consensus decision-making is a group decision-making process in which group members develop, and agree to support a decision in the best interest of the whole.

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Constant capital

Constant capital (c), is a concept created by Karl Marx and used in Marxian political economy.

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Copyright

Copyright is a legal right, existing globally in many countries, that basically grants the creator of an original work exclusive rights to determine and decide whether, and under what conditions, this original work may be used by others.

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Das Kapital

Das Kapital, also known as Capital.

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David Ricardo

David Ricardo (18 April 1772 – 11 September 1823) was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James Mill.

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Depreciation

In accountancy, depreciation refers to two aspects of the same concept.

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Double-entry bookkeeping system

Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account.

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Durable good

In economics, a durable good or a hard good is a good that does not quickly wear out, or more specifically, one that yields utility over time rather than being completely consumed in one use.

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Ecological economics

Ecological economics (also called eco-economics, ecolonomy or bioeconomics of Georgescu-Roegen) is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially.

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Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Economics (textbook)

Economics is an introductory textbook by American economists Paul Samuelson and William Nordhaus.

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Entrepreneurship

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business.

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Eugen Böhm von Bawerk

Eugen Böhm Ritter von Bawerk (born Eugen Böhm, 12 February 1851 – 27 August 1914) was an Austrian economist who made important contributions to the development of the Austrian School of Economics.

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Factors of production

In economics, factors of production, resources, or inputs are which is used in the production process to produce output—that is, finished goods and services.

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Fictitious capital

Fictitious capital (German: fiktives Kapital) is a concept used by Karl Marx in his critique of political economy.

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Financial capital

Financial capital is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc.

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Fixed capital

Fixed capital is a concept in economics and accounting, first theoretically analyzed in some depth by the economist David Ricardo.

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Goods

In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.

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Goodwill (accounting)

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business.

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Green economy

The green economy is defined as an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment.

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Henry George

Henry George (September 2, 1839 – October 29, 1897) was an American political economist and journalist.

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Human capital

Human capital is a term popularized by Gary Becker, an economist and Nobel Laureate from the University of Chicago, and Jacob Mincer.

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Human development (humanity)

Human development is the science that seeks to understand how and why the people of all ages and circumstances change or remain the same over time.

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Individual capital

Individual capital, the economic view of talent, comprises inalienable or personal traits of persons, tied to their bodies and available only through their own free will, such as skill, creativity, enterprise, courage, capacity for moral example, non-communicable wisdom, invention or empathy, non-transferable personal trust and leadership.

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Infrastructure

Infrastructure is the fundamental facilities and systems serving a country, city, or other area, including the services and facilities necessary for its economy to function.

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Ingenuity

Ingenuity is the quality of being clever, original, and inventive, often in the process of applying ideas to solve problems or meet challenges.

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Instructional capital

Instructional capital is a term used in educational administration after the 1960s, to reflect capital resulting from investment in producing learning materials.

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Intangibles

Intangibles or intangible may refer to.

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Intellectual capital

Intellectual capital is the intangible value of a business, covering its people (human capital), the value inherent in its relationships (Relational capital), and everything that is left when the employees go home (Structural capital), of which Intellectual property (IP) is but one component.

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Intellectual property

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect, and primarily encompasses copyrights, patents, and trademarks.

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Intermediate good

Intermediate goods or producer goods or semi-finished products are goods, such as partly finished goods, used as inputs in the production of other goods including final goods.

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Investment

In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.

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Joan Robinson

Joan Violet Robinson FBA (31 October 1903 – 5 August 1983), previously Joan Violet Maurice, was a British economist well known for her wide-ranging contributions to economic theory.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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Jonathan Nitzan

Jonathan Nitzan is Professor of Political Economy at York University, Toronto, Canada.

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Karl Marx

Karl MarxThe name "Karl Heinrich Marx", used in various lexicons, is based on an error.

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Knowledge

Knowledge is a familiarity, awareness, or understanding of someone or something, such as facts, information, descriptions, or skills, which is acquired through experience or education by perceiving, discovering, or learning.

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Knowledge management

Knowledge management (KM) is the process of creating, sharing, using and managing the knowledge and information of an organisation.

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Labor theory of value

The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by the total amount of "socially necessary labor" required to produce it, rather than by the use or pleasure its owner gets from it (demand) and its scarcity value (supply).

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Labour economics

Labour economics seeks to understand the functioning and dynamics of the markets for wage labour.

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Land (economics)

In economics, land comprises all naturally occurring resources as well as geographic land.

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Leadership

Leadership is both a research area and a practical skill encompassing the ability of an individual or organization to "lead" or guide other individuals, teams, or entire organizations.

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Marxian economics

Marxian economics, or the Marxian school of economics, refers to a school of economic thought tracing its foundations to the critique of classical political economy first expounded upon by Karl Marx and Friedrich Engels.

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Max Weber

Maximilian Karl Emil "Max" Weber (21 April 1864 – 14 June 1920) was a German sociologist, philosopher, jurist, and political economist.

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Means of production

In economics and sociology, the means of production (also called capital goods) are physical non-human and non-financial inputs used in the production of economic value.

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Natural capital

Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms.

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Neoclassical economics

Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

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Non-renewable resource

A non-renewable resource (also called a finite resource) is a resource that does not renew itself at a sufficient rate for sustainable economic extraction in meaningful human time-frames.

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Organic composition of capital

The organic composition of capital (OCC) is a concept created by Karl Marx in his critique of political economy and used in Marxian economics as a theoretical alternative to neo-classical concepts of factors of production, production functions, capital productivity and capital-output ratios.

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Organizational capital

Organizational capital is the value to an enterprise which is derived from organization philosophy and systems which leverage the organization’s capability in delivering goods or services.

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Paper wealth

Paper wealth means wealth as measured by monetary value, as reflected in the price of assets – how much money one's assets could be sold for.

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Patent

A patent is a set of exclusive rights granted by a sovereign state or intergovernmental organization to an inventor or assignee for a limited period of time in exchange for detailed public disclosure of an invention.

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Paul Samuelson

Paul Anthony Samuelson (15 May 1915 – 13 December 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences.

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Physical capital

In economics, physical capital or just capital is a factor of production (or input into the process of production), consisting of machinery, buildings, computers, and the like.

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Piero Sraffa

Piero Sraffa (5 August 1898 – 3 September 1983) was an influential Italian economist, who served as lecturer of economics at the University of Cambridge.

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Production (economics)

Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).

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Production function

In economics, a production function relates quantities of physical output of a production process to quantities of physical inputs or production function refers as the expression of the technological relation between physical inputs and outputs of the goods.

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Public capital

Public capital is the aggregate body of government-owned assets that are used as a means for productivity.

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Replacement value

The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth.

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Roundaboutness

Roundaboutness, or roundabout methods of production, is the process whereby capital goods are produced first and then, with the help of the capital goods, the desired consumer goods are produced.

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Saving

Saving is income not spent, or deferred consumption.

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Service (economics)

In economics, a service is a transaction in which no physical goods are transferred from the seller to the buyer.

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Shimshon Bichler

Shimshon Bichler is an educator who teaches political economy at colleges and universities in Israel.

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Skill

A skill is the ability to carry out a task with determined results often within a given amount of time, energy, or both.

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Social capital

Social capital is a form of economic and cultural capital in which social networks are central; transactions are marked by reciprocity, trust, and cooperation; and market agents produce goods and services not mainly for themselves, but for a common good.

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Stock

The stock (also capital stock) of a corporation is constituted of the equity stock of its owners.

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Stock and flow

Economics, business, accounting, and related fields often distinguish between quantities that are stocks and those that are flows.

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Surplus value

Surplus value is a central concept in Karl Marx's critique of political economy.

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The Accumulation of Capital

The Accumulation of Capital (full title: The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism, Die Akkumulation des Kapitals: Ein Beitrag zur ökonomischen Erklärung des Imperialismus) is the principal book-length work of Rosa Luxemburg, first published in 1913, and the only work Luxemburg published on economics during her lifetime.

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The New Palgrave Dictionary of Economics

The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.

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Trademark

A trademark, trade mark, or trade-markThe styling of trademark as a single word is predominantly used in the United States and Philippines only, while the two-word styling trade mark is used in many other countries around the world, including the European Union and Commonwealth and ex-Commonwealth jurisdictions (although Canada officially uses "trade-mark" pursuant to the Trade-mark Act, "trade mark" and "trademark" are also commonly used).

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Triple bottom line

Triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial.

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Venture capital

Venture capital (VC) is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth (in terms of number of employees, annual revenue, or both).

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Wealth

Wealth is the abundance of valuable resources or valuable material possessions.

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Welfare economics

Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.

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Werner Sombart

Werner Sombart (19 January 1863 – 18 May 1941) was a German economist and sociologist, the head of the “Youngest Historical School” and one of the leading Continental European social scientists during the first quarter of the 20th century.

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William Nordhaus

William Dawbney "Bill" Nordhaus (born May 31, 1941) is an economist and Sterling Professor of Economics at Yale University, best known for his work in economic modeling and climate change.

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Business capital, Capital (Futures), Capital (money), Capital Stock, Capital flow, Capital flows, Capital maintenance, Captive capital, Foreign capital, Investment capital, Private capital, Real capital, Theory of capital.

References

[1] https://en.wikipedia.org/wiki/Capital_(economics)

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