Economics Dictionary of ArgumentsHome
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| Capital: Capital in economics refers to assets used to produce goods and services, including financial capital, machinery, buildings, and human skills. It represents an investment in productive resources, contributing to economic growth, productivity, and wealth generation. Capital can be physical or human, and its accumulation is crucial for development._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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John Bates Clark on Capital - Dictionary of Arguments
Harcourt I 19/20 Capital/Measurment/production/J.B. Clark/Harcourt: It [the principle of differential gain] .. . identifies production with distribution, and shows that what a social class gets is, under natural law, what it contributes to the general output of industry. Com pletely stated, the principle of differential gain affords a theory of Economic Statics.(1) SolowVsVClark: Solow, though, denies this view - for him, capital as a unit only has significance in empirical work, not in rigorous theory. SamuelsonVsClark: Samuelson [1962](2), too, puts a similar view in the introduction to his 1962 paper on the surrogate production function, albeit with some reluctance, because, as he says somewhat ruefully, easy papers drive out hard as far as readers are concerned. >Production function, >Surrogate production function. 1. Clark, J.B. - [1891] 'Distribution as Determined by a Law of Rent', Quarterly Journal of Economics, v, pp. 312-13. 2. Samuelson, P. A. [1962] 'Parable and Realism in Capital Theory: The Surrogate Production Function', Review of Economic Studies, xxix, pp. 193-206._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Clark I John Bates Clark Essentials of Economic Theory by John Bates Clark: Foundational Concepts in Economics Made Accessible (English Edition) New Delhi 2029 Clark I John Maurice Clark Alternative to serfdom: Five lectures delivered ... at the University of Michigan, March 1947 New York 1948 Harcourt I Geoffrey C. Harcourt Some Cambridge controversies in the theory of capital Cambridge 1972 |
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