The Capital Idea and the Scope of Economics
This paper traces the idea of Capital from Adam Smith to modern times and shows how different conceptions of Capital give rise to different approaches to economics and the range of problems that can be investigated. A structural, as opposed to a stock, approach to Capital is shown to be more conducive to a studies of business institutions and practices, and to rules, institutions and standards in a changing world. Copyright Springer Science + Business Media, Inc. 2005
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Volume (Year): 18 (2005)
Issue (Month): 2 (June)
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References listed on IDEAS
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- Romer, Paul M, 1990.
"Are Nonconvexities Important for Understanding Growth?,"
American Economic Review,
American Economic Association, vol. 80(2), pages 97-103, May.
- Paul Romer, 1990. "Are Nonconvexities Important For Understanding Growth?," NBER Working Papers 3271, National Bureau of Economic Research, Inc.
- Peter Lewin & Steven E. Phelan, 2002. "Rents and Resources: A Market Process Perspective," Chapters,in: Entrepreneurship and the Firm, chapter 11 Edward Elgar Publishing.
- Peter Lewin, 1997. "Capital in Disequilibrium: A Reexamination of the Capital Theory of Ludwig M. Lachmann," History of Political Economy, Duke University Press, vol. 29(3), pages 523-548, Fall. Full references (including those not matched with items on IDEAS)
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