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Evolution of the Concept of Capital– A Historical Perspective

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  • 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
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    File URL: https://mpra.ub.uni-muenchen.de/14208/1/MPRA_paper_14208.pdf
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    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.
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    Cited by:

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    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

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