IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/14208.html
   My bibliography  Save this paper

Evolution of the Concept of Capital– A Historical Perspective

Author

Listed:
  • Roy Trivedi, Smita

Abstract

This paper traces the evolution of the concept of capital in economic literature––from the ‘fund’ concept prevalent in pre-classical and classical writings to the stress on ‘physical capital’ in neoclassical literature and finally to ‘human capital’ in endogenous growth theory. While financial capital is occupying a key role in research presently in the context of financial globalization and financialisation, the concept of ‘financial capital’ has remained little explored in literature.

Suggested Citation

  • Roy Trivedi, Smita, 2009. "Evolution of the Concept of Capital– A Historical Perspective," MPRA Paper 14208, University Library of Munich, Germany, revised 21 Mar 2009.
    • Handle: RePEc:pra:mprapa:14208
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/14208/1/MPRA_paper_14208.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Engelbert Stockhammer, 2004. "Financialisation and the slowdown of accumulation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(5), pages 719-741, September.
    2. Bliss, C. J., 1975. "Capital Theory and the Distribution of Income," Elsevier Monographs, Elsevier, edition 1, number 9780720436044 edited by Bliss, C. J..
    3. Carlota Perez, 2002. "Technological Revolutions and Financial Capital," Books, Edward Elgar Publishing, number 2640.
    4. Syed Ahmad, 1991. "Capital in Economic Theory," Books, Edward Elgar Publishing, number 5.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Raphael S. Etim & Mfon S. Jeremiah & Ofonime O. Jeremiah, 2019. "Attracting Foreign Direct Investment (FDI) In Nigeria through Effective Tax Policy Incentives," International Journal of Applied Economics, Finance and Accounting, Online Academic Press, vol. 4(2), pages 36-44.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jesus Felipe & John S.L. McCombie, 2013. "The Aggregate Production Function and the Measurement of Technical Change," Books, Edward Elgar Publishing, number 1975.
    2. Avi Cohen, 2006. "The Kaldor/Knight controversy: Is capital a distinct and quantifiable factor of production?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(1), pages 141-161.
    3. Egert Juuse & Rainer Kattel, 2014. "Financialisation and the Financial and Economic Crises: The Case of Estonia," FESSUD studies fstudy20, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    4. Erkki Karo & Rainer Kattel, 2010. "The Copying Paradox: Why Converging Policies but Diverging Capacities in Eastern European Innovation Systems?," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 2(2), pages 167-206, October.
    5. Christian Schoder, 2012. "Effective demand, exogenous normal utilization and endogenous capacity in the long run. Evidence from a CVAR analysis for the US," IMK Working Paper 103-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    6. Photis Lysandrou, 2016. "The colonization of the future: An alternative view of financialization and its portents," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 39(4), pages 444-472, October.
    7. Marco Gallegati, 2019. "A system for dating long wave phases in economic development," Journal of Evolutionary Economics, Springer, vol. 29(3), pages 803-822, July.
    8. Christine Mayrhuber & Christian Glocker & Thomas Horvath & Silvia Rocha-Akis, 2015. "Entwicklung und Verteilung der Einkommen in Österreich," WIFO Studies, WIFO, number 50897, April.
    9. Garbellini, Nadia, 2020. "Measurement without theory, and theory without measurement: What's wrong with Piketty's capital in the XXI century?," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 50-62.
    10. Kriedel, Norbert, 2006. "Long waves of economic development and the diffusion of general-purpose technologies: The case of railway networks," HWWI Research Papers 1-1, Hamburg Institute of International Economics (HWWI).
    11. Hein, Eckhard & van Treeck, Till, 2024. "Financialisation and demand and growth regimes: A review of post-Keynesian contributions," ifso working paper series 32, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    12. Michalis Nikiforos, 2020. "Demand, Distribution, Productivity, Structural Change, and (Secular?) Stagnation," Economics Working Paper Archive wp_945, Levy Economics Institute.
    13. Diego Comin & Ramana Nanda, 2019. "Financial Development and Technology Diffusion," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(2), pages 395-419, June.
    14. Mustafa Erdem Sakinç, 2017. "Share Repurchases in Europe A Value Extraction Analysis," CEPN Working Papers hal-03987909, HAL.
    15. Da Silva, Sergio, 2009. "Does Macroeconomics Need Microeconomic Foundations?," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-11.
    16. Srdelić, Leonarda & Dávila-Fernández, Marwil J., 2024. "International trade and economic growth in Croatia," Structural Change and Economic Dynamics, Elsevier, vol. 68(C), pages 240-258.
    17. Eckhard Hein & Christian Schoder, 2011. "Interest rates, distribution and capital accumulation -- A post-Kaleckian perspective on the US and Germany," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(6), pages 693-723, November.
    18. Dögüs, Ilhan, 2016. "A Minskyan criticism on the shareholder pressure approach of financialisation," ZÖSS-Discussion Papers 53, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    19. Alex Izurieta, 2009. "Forum 2009," Development and Change, International Institute of Social Studies, vol. 40(6), pages 1153-1190, November.
    20. repec:ers:journl:v:xv:y:2012:i:sie:p:157-194 is not listed on IDEAS
    21. Joel Rabinovich & Niall Reddy, 2024. "Corporate Financialization: A Conceptual Clarification and Critical Review of the Literature," Working Papers PKWP2402, Post Keynesian Economics Society (PKES).

    More about this item

    Keywords

    Capital; History of economic thought;

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • N00 - Economic History - - General - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:14208. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.