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An Obvious Excess of Capital

In: Capitalism without Capital

Author

Listed:
  • Alan Shipman

    (Open University)

Abstract

The idea that capitalism can work without capital is clearly absurd. It’s got to be there — not just by definition, but because economic activity is stalled without it. When just a few dollars’ worth of capital is added to poor people’s ingenuity and industry, it can unlock the commercial drive that lifts them out of poverty (Banerjee & Duflo 2011: Ch. 9, De Soto 2000, Yunus 2003). Plenty of informed observation shows that people on low incomes have the incentive and inventiveness to prosper, and it is for want of an — often tiny — endowment of capital that they remain stuck in a hand-to-mouth existence.

Suggested Citation

  • Alan Shipman, 2015. "An Obvious Excess of Capital," Palgrave Macmillan Books, in: Capitalism without Capital, chapter 1, pages 9-26, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-44244-4_2
    DOI: 10.1057/9781137442444_2
    as

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