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Topic: Capital (economics)

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  capital, in economics. The Columbia Encyclopedia, Sixth Edition. 2001-05
In the broad sense, capital consists of such paper as stocks and bonds (financial capital), which is used to acquire the physical capital of tools, machines, stores of merchandise, houses, means of transportation—any materials used to extract, transport, create, or alter goods.
A distinction is also made between capital stocks, or circulating capital (such as raw materials, goods in process, finished goods, and sometimes wages), and capital instruments, or fixed capital (such as machines, tools, railways, and factories).
Capital may be classed as specialized, such as railway equipment, or unspecialized, such as lumber or other raw materials having many uses.
www.bartleby.com /65/ca/capital-eco.html   (386 words)

  Capital (economics) - Wikipedia, the free encyclopedia
Investment or capital accumulation in classical economic theory is the act of producing increased capital.
Since capital is defined by him as being goods of higher-order, or goods used to produce consumer goods, and derived their value from them, being future goods.
However, this increasingly distinguishes means of capital investment, and collection of potential rewards for patent, copyright (creative or individual capital), and trademark (social trust or social capital) instruments.
en.wikipedia.org /wiki/Capital_(economics)   (1024 words)

 Capital (disambiguation) - Wikipedia, the free encyclopedia
In literature and economics, Capital is the English title of Das Kapital by Karl Marx.
In Marxian economics, capital is asset value seeking surplus-value (or value-accretion) within a framework of private property relations and social relations of production which permit the economic exploitation of surplus labour.
Also, the term "capital" is often confused with the term capitol, which is the term used for certain buildings used to house the legislative body of a certain sovereignty.
en.wikipedia.org /wiki/Capital_(disambiguation)   (383 words)

 Encyclopedia: Capital (economics)   (Site not responding. Last check: )
The capital controversy refers to a debate in economics concerning the nature and role of capital goods (or means of production) that occurred during the 1960s, largely between economists such as Joan Robinson and Piero Sraffa at the University of Cambridge in England and economists such as Paul Samuelson and...
capital, in economics, the elements of production from which an income is derived, usually defined with the exception of land and labor.
Capital may be classed as specialized, such as railway equipment, or unspecialized, such as lumber or other raw materials having many uses.
www.nationmaster.com /encyclopedia/Capital-%28economics%29   (638 words)

 Reference.com/Encyclopedia/Human capital
The best-known application of the idea of "human capital" in economics is that of Jacob Mincer and Gary Becker of the Chicago school.
In this view, human capital is similar to "physical means of production", e.g., factories and machines: one can invest in human capital (via education, training, medical treatment) and one's income depends partly on the rate of return on the human capital one owns.
Human capital is substituable: it will not replace land, labor, or capital totally, but it can be substituted for them to various degrees and be included as a separate variable in a production function.
www.reference.com /browse/wiki/Human_capital   (1079 words)

 Ten Principles of the Economics of Capital
Capital theory is one of the most difficult topics in all of economics.
One of the most sur-prising findings of the economics of capital is that the overwhelming bulk of the extra income generated by capital accumulation flows to people in their role as wage earners, rather than to the owners of capital.
Perhaps because capital gains taxes have become a political issue, the major forecasting agencies of Congress have (1) denied the existence of this historical relationship, (2) gone to great lengths to explain it away or (3) maintained that the past relationship would not hold in the future.
www.ncpa.org /pi/taxes/bb10prin.html   (3592 words)

 capital (economics)
Financial capital is accumulated or inherited wealth held in the form of assets, such as stocks and shares, property, and bank deposits, while physical capital is wealth in the form of physical assets such as machinery and plant.
Circulating capital is capital that is used up quickly, such as raw materials, components, and stocks of finished goods waiting for sale.
Social capital is usually owned by the state and is the infrastructure of the economy, such as roads, bridges, schools, and hospitals.
www.tiscali.co.uk /reference/encyclopaedia/hutchinson/m0038323.html   (249 words)

 Transcendental and Immanent Capital: An Economics of an Oncological Order
Capital is literally "screened" or mediated through the Internet, creating a system of double-fiat: the fiat of currency itself now filtered through the fiat of the numerical order as bits of transferred data streaming across fiber optic lines.
Capital sets up false contradictions everywhere, Self-Other, Center-Periphery, Developed-Underdeveloped, Modernized-Primitive, etc. the Odyssean movement of capital discovers itself in all that it is not, as an absolute exteriority, absorbs and levels all affirmative differences in the social by rearticulating the Other as lack, and then repatriates itself within the center.
Personified capital and "capitalized" personhood: their mutual arbitrariness is not to be taken to mean that there can be a seamless substitution between the two, but that both person and capital as individuations are hollowed out and put into play as vehicles of a meta-capital axiomatic.
members.optusnet.com.au /~robert2600/azimute/texts/transcendental_immanent_capital.html   (6740 words)

 Capital (economics)   (Site not responding. Last check: )
Investment or capital accumulation inclassical economic theory is the act of producing increased capital.
Instructional capital which is adequately-testedknowledge that persons and communities and software executes to predict/create or avoid futures that they consider desirable, ornot.
However, thisincreasingly distinguishes means of capital investment, and collection of potential rewards for patent (imitative or instructional capital), copyright (creative or individual capital), and trademark (social trust or social capital) instruments.
www.therfcc.org /capital-economics--2678.html   (1272 words)

 A systems perspective on the interrelations between natural, human-made and cultural capital
This is a common definition of capital in economics textbooks.
As an alternative term, we considered using 'adaptive capital' to emphasize that we are referring to all of those factors important to ecological economics from an evolutionary, mainly cultural evolutionary, sense (Costanza et al., 1991).
Economics as mechanics and the demise of biological diversity.
dieoff.org /page117.htm   (2255 words)

 Economics: Stocks and Flows
In economics, the "capital stock" of a company is everything it has that helps it make things.
The notion of health as a stock of capital helps inform decisions in tort cases about how much a person should be paid to compensate for a loss of health caused by someone else.
The capital stock required to start an enterprise has to be expressed as a flow in order to calculate cost functions.
hadm.sph.sc.edu /Courses/Econ/Classes/Stocksandflows/Stocksandflows.html   (684 words)

 Economics of Capital Punishment: Oriskany Central School-Oriskany, New York   (Site not responding. Last check: )
Capital punishment has always been a controversial issue, despite the fact that the death penalty has been a form of criminal punishment since the beginning of of human existence.
Capital punishment is, by definition, the lawful infliction of the death penalty; it has been documented to have punished a variety of offenses since ancient times.
Georgia, the US Supreme Court invalidated the capital punishment laws of 39 states by maintaining that the impositions and execution of the death penalty was in violation of the 8th and 14th amendments of the Constitution of the United States.
www.cybervillage.com /ocs/penalty.htm   (2724 words)

Capital flight hinders economic development by limiting Latin American countries' ability to import the vital industrial inputs which Latin American countries need to make use of their existing economic capacity.
Capital flight has contributed more to the country's balance of payments difficulties than its debt; over the past 15 years, the overseas assets Venezuela has acquired have exceeded foreign borrowing by $20 billion.
Controlling capital The scope of the capital flight problem and the failure of IMF- type measures to solve it suggest that new approaches are necessary.
multinationalmonitor.org /hyper/issues/1991/01/mm0191_11.html   (1171 words)

 Capital - Conservapedia
Adam Smith distinguishes between two different types of capital that may be eployed for the production of revenue, a fixed capital, and a circulating capital.
The improved dexterity of a workman may be considered in the same light as a machine or instrument of trade which facilitates and abridges labour, and which, though it costs a certain expence, repays that expence with a profit.
His capital is continually going from him in one shape, and returning to him in another, and it is only by means of such circulation, or successive exchanges, that it can yield him any profit.
www.conservapedia.com /Capital   (605 words)

 Social Capital in Economics, Trade and Migration
There is increasing evidence that trade at the macro level is influenced by social capital --a common property resource whose value depends on the level of interaction between people.
While most work on social capital is microeconomic, social capital has implications for the effect of trade and migration, economic reform, regional integration, new technologies which affect how people interact, security, and more.
If economic reform, which improves private resource allocation, worsens the income distribution across groups and lowers the degree of cooperation between them, than societal welfare may be reduced.
www1.worldbank.org /prem/poverty/scapital/topic/econ1.htm   (325 words)

 The Economics of Capital Punishment
The belief that the death penalty deters capital crimes, to a greater degree than the alternatives, can be the only rational argument in support of capital punishment.
If capital punishment were a significant deterrent to homicide, a sharply inverse relationship should appear between the two phenomena, particularly when seen in longitudinal perspective.
Regarding the controversy over deterrence; one might reasonably infer that capital punishment might, depending on the state of society at the moment, have a deterrent effect, have a brutalization effect, have no effect, or have a retaliatory effect.
www.mindspring.com /~phporter/econ.html   (3458 words)

 Social Security and the Destruction of Capital - Mises Institute
While the direct connection between savings by the economically active and the consumption of these funds by the recipients of social security and welfare is quite obvious in the pay-as-you-go-systems, “capital-based” social security schemes suffer from the same problem that the link between personal savings and economic investment is being cut.
In the perspective of Austrian economics, capital is not a simple lump sum called “K,” but a heterogeneous ensemble of production goods that has to be brought to life by entrepreneurial action.
Capital is not like a tree that grows by itself and each year provides the apples for consumption.
www.mises.org /story/1831   (2295 words)

 Human Capital, High School Economics Topics: Library of Economics and Liberty
Human Capital is one of 51 key economics concepts identified by the National Council on Economic Education (NCEE) for high school classes.
These are all forms of capital in the sense that they are assets that yield income and other useful outputs over long periods of time.
They are called human capital because people cannot be separated from their knowledge, skills, health, or values in the way they can be separated from their financial and physical assets....
www.econlib.org /library/Topics/HighSchool/HumanCapital.html   (392 words)

 The Economics of Productivity and Capital
Exponential growth of capital is fundamentally possible for a single controlling individual with limited capacity, by progressively re-packaging his increasing capital in more controllable forms (the process we call technology).
There's essentially no limit to this process, and the capital we each own today is exponentially more valuable than what we would have had in the past.
Also, the billionaire's exceptional position within society means that technology has not caught up with him to help him control his capital (perhaps, for instance, some day the same amount of capital could be converted to a space ship with a holodeck and a materializer).
sifter.org /~brandyn/capitalGrowth.html   (1255 words)

 Litigation Analytics, Inc.
Since 1985, economists at LAI have applied the reliable principles and methods of labor economics and human capital to the analysis of economic damages in matters involving personal injury and death.
A sense of legitimacy is often sought by referring to these rules of thumb as “forensic economics,” suggesting this to be a separate field of economic science.
This has motivated us to focus on education, contrasting the principles of mainstream economics with those myths often perpetrated in the courtroom in cases involving personal injury and wrongful death.
www.litigationanalytics.com   (315 words)

 Behavioral Economics, the Motivation Axiom, and Capital Flow Analysis
The stuff that moves billions of dollars of capital over many quarters or years is hardly anything so unsubstantial as ‘investor confidence’ or fluctuations in interest rates.
In Capital Flow Analysis, we need to discover deep-rooted imperatives that govern groups and societies, evidenced by laws, institutional structures, widely held beliefs, culture, and the framework of organizations.
Capital Flow Analysis explains asset price movements not as a function of the quantity of securities offered for purchase or sale, but as a result of opposing motivation of different categories of market players.
www.capital-flow-analysis.com /investment-tutorial/lesson_2.html   (1146 words)

 Economics Major
Faculty members in Capital's economics program believe strongly that economics students must have a thorough background in the liberal arts.
Most economics graduates do not practice economics, but an economics degree is a highly valued degree because it indicates a strong aptitude for analytical reasoning and good quantitative skills, as well as good writing skills.
As many Capital graduates have found, the analytical thinking skills that are developed in an economics major often are the same skills necessary for success in law school and/or an MBA program.
www.capital.edu /4176   (700 words)

 The International Monetary Fund Deters free capital flow - Economics USA Today (Society for the Advancement of ...
Access to the global capital market provides an economy with a number of important benefits, including lower borrowing costs for businesses and greater returns to savers, the ability to smooth consumption when faced with adverse economic shocks, improved risk management, and greater financial sector efficiency due to increased competition from foreign financial institutions.
Although investment and capital formation are high, the abundance of capital means that some funds are funneled into projects that provide a low return.
The problem with closed capital markets is that the high-saving country is financing some projects that pay a return below what could be earned on projects that remain without funding in the low-saving nation.
findarticles.com /p/articles/mi_m1272/is_2678_130/ai_80533080?lstpn=article_results&lstpc=search&lstpr=external&lstprs=other&lstwid=1&lstwn=search_results&lstwp=body_middle   (852 words)

 Top Professional Economics Experts and Legal Witnesses
The two main purposes of econometrics are to give empirical content to economic theory and also to empirically verify economic theory.
Economic base analysis was developed by Robert Murray Haig in his work on the Regional Plan of New York in 1928.
It is a combination of mathematical economics, statistics, economic statistics and economic theory.
economics.expertwitness.com   (412 words)

 Capital (economics)   (Site not responding. Last check: )
The classical economist extraordinaire David Ricardo would use the above definition for the term fixed capital while including raw materials and intermediate products are part of his circulating capital.
To him, variable capital referred to a capitalist's investment in hiring labor-power, seen as the only source of surplus-value.
Thus, in Marxian theory, a long-term employee's wages would count as both variable capital and as fixed capital!
www.sciencedaily.com /encyclopedia/capital__economics_   (928 words)

 Columbia News ::: Father of Modern Labor Economics Jacob Mincer Honored for Critical Contributions to the Field
In recognition of his lifetime achievements in the field, Mincer was awarded the first annual IZA Prize in Labor Economics, a $50,000 award from the Institute for the Study of Labor in Bonn, Germany.
Mincer, a Polish Holocaust survivor who emigrated to the United States in 1948, graduated with a Ph.D. in Economics from Columbia (1957) to become a leading member of a group of economists at Columbia and the University of Chicago, known as the Labor Workshop at Columbia and later the Columbia-Chicago School of Economics.
He was named the Buttenwieser Professor of Economics and Human Relations at Columbia in 1979, is a member of the National Academy of Sciences and holds a honorary doctorate from the University of Chicago, in addition to a number of other honors and achievements.
www.columbia.edu /cu/news/02/07/jacobMincer_award.html   (779 words)

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