IDEAS home Printed from https://ideas.repec.org/a/oup/qjecon/v23y1908i1p104-136..html
   My bibliography  Save this article

On the Nature of Capital: Investment, Intangible Assets, and the Pecuniary Magnate

Author

Listed:
  • Thorstein Veblen

Abstract

Introductory summary, 104.—Certain effects of investment and the price system, 105.—Intangible assets, their nature, derivation, and basis, 111.—Summary of analysis of assets, 115.—Tangible and intangible assets distinct, but mutually convertible, 116.—Dependence of all assets on industrial production, 122.—Non-capitalizable income from assets, 125.—Place and function of the "Pecuniary Magnate," 126.—"Timeless" gains from the use of (large) capital, 130.—Source of such "timeless" gains, 132.—Consequences for ordinary business men and ordinary profits, 135.

Suggested Citation

  • Thorstein Veblen, 1908. "On the Nature of Capital: Investment, Intangible Assets, and the Pecuniary Magnate," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 23(1), pages 104-136.
    • Handle: RePEc:oup:qjecon:v:23:y:1908:i:1:p:104-136.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1883967
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Atasoy, Özgün & Trudel, Remi & Noseworthy, Theodore J. & Kaufmann, Patrick J., 2022. "Tangibility bias in investment risk judgments," Organizational Behavior and Human Decision Processes, Elsevier, vol. 171(C).
    2. Bichler, Shimshon & Nitzan, Jonathan, 2018. "CasP's 'Differential Accumulation' versus Veblen's 'Differential Advantage'," Working Papers on Capital as Power 2018/08, Capital As Power - Toward a New Cosmology of Capitalism.
    3. Waldstrøm, Christian & Svendsen, Gunnar Lind Haase, 2008. "On the capitalization and cultivation of social capital: Towards a neo-capital general science?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1495-1514, August.
    4. Nitzan, Jonathan, 1992. "Inflation As Restructuring. A Theoretical and Empirical Account of the U.S. Experience," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157989, September.
    5. Bichler, Shimshon & Nitzan, Jonathan, 2023. "The Capital As Power Approach. An Invited-then-Rejected Interview with Shimshon Bichler and Jonathan Nitzan," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 2(2), pages 96-174.
    6. Robison, Lindon J. & Myers, Robert J. & Siles, Marcelo E., 1999. "Social Capital, The Terms Of Trade, And The Distribution Of Income," Staff Paper Series 11546, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    7. Hugh Rockoff, 2008. "Great Fortunes of the Gilded Age," NBER Working Papers 14555, National Bureau of Economic Research, Inc.
    8. Mouré, Christopher, 2022. "Costly Efficiencies: Health Care Spending, COVID-19, and the Public/Private Health Care Debate," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 2(2), pages 17-45.
    9. Nitzan, Jonathan & Bichler, Shimshon, 2019. "CasP's 'Differential Accumulation' versus Veblen's 'Differential Advantage' (Revised and Expanded)," Working Papers on Capital as Power 2019/01, Capital As Power - Toward a New Cosmology of Capitalism.
    10. Rahul A Sirohi, 2024. "Corporate power and the rise of intangibles: A study of Indian firms," Environment and Planning A, , vol. 56(3), pages 865-882, May.
    11. Mouré, Christopher, 2022. "No Shortage of Profit: Technological Change, Chip 'Shortages', and Capital Accumulation in the Semiconductor Business," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 262742, September.
    12. Rikap, Cecilia & Flacher, David, 2020. "Who collects intellectual rents from knowledge and innovation hubs? questioning the sustainability of the singapore model," Structural Change and Economic Dynamics, Elsevier, vol. 55(C), pages 59-73.
    13. Lindon Robison & A. Allan Schmid & Marcelo Siles, 2002. "Is Social Capital Really Capital?," Review of Social Economy, Taylor & Francis Journals, vol. 60(1), pages 1-21.
    14. Fragkandreas, Thanos & Larsen, Karin, 2009. "Social Capital and Economic Performance: some lessons from Farm Partnerships in Sweden," MPRA Paper 17916, University Library of Munich, Germany.
    15. Robison, Lindon J. & Siles, Marcelo E. & Schmid, A. Allan, 2002. "Social Capital And Poverty Reduction: Toward A Mature Paradigm," Agricultural Economic Report Series 10941, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    16. Giorgos Argitis, 2013. "Veblenian and Minskian financial markets," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 28-43.
    17. Luciano Messori & Raimondello Orsini, 2018. "John Bates Clark: the first American marginalist as a social economist," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2018(2), pages 33-53.
    18. Mouré, Christopher, 2021. "Costly Efficiencies: Health Care Spending, COVID-19, and the Public/Private Health Care Debate," Working Papers on Capital as Power 2021/05, Capital As Power - Toward a New Cosmology of Capitalism.
    19. Davanzati, Guglielmo Forges, 2018. "Structural change driven by institutions: Thorstein veblen revised," Structural Change and Economic Dynamics, Elsevier, vol. 45(C), pages 105-110.
    20. Cochrane, David Troy, 2015. "What’s Love Got to Do with It? Diamonds and the Accumulation of De Beers, 1935-55," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157995, September.
    21. Guglielmo Forges Davanzati, 2016. "Thorstein Veblen on the nature of the firm and income distribution," Working Papers PKWP1618, Post Keynesian Economics Society (PKES).

    More about this item

    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:oup:qjecon:v:23:y:1908:i:1:p:104-136.. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/qje .

    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.