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Turgot’s Capital Theory

Author

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  • Raul Cristovão dos Santos

Abstract

This article examines Turgot’s capital theory. It calls attention for his methodologicalprocedure in deriving first the very concept of capital out of the analysis of circulation,for then to inquire on its possible employments, among them that of acting as advancesin production. In doing so, Turgot changes into a logical result what was a mere suppositionof the physiocratic analysis, namely, the existence of a class of entrepreneurs as the ownersof required amount of resources for carrying on production. JEL Classification: B11; B31.

Suggested Citation

  • Raul Cristovão dos Santos, 1999. "Turgot’s Capital Theory," Brazilian Journal of Political Economy, Center of Political Economy, vol. 19(3), pages 550-564.
    • Handle: RePEc:ekm:repojs:v:19:y:1999:i:3:p:550-564:id:1070
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1070/1055
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    More about this item

    Keywords

    History of economic thought; physiocracy; capital theory; Turgot;
    All these keywords.

    JEL classification:

    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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