An Obvious Excess of Capital

Alan Shipman
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Alan Shipman: Open University

Chapter 1 in Capitalism without Capital, 2015, pp 9-26 from Palgrave Macmillan

Abstract: 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.

Keywords: Interest Rate; Foreign Direct Investment; Central Bank; Federal Reserve; Credit Rating (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-44244-4_2

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DOI: 10.1057/9781137442444_2

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