The Capital Idea and the Scope of Economics

Peter Lewin

The Review of Austrian Economics, 2005, vol. 18, issue 2, 145-167

Abstract: This paper traces the idea of Capital from Adam Smith to modern times and shows how different conceptions of Capital give rise to different approaches to economics and the range of problems that can be investigated. A structural, as opposed to a stock, approach to Capital is shown to be more conducive to a studies of business institutions and practices, and to rules, institutions and standards in a changing world. Copyright Springer Science + Business Media, Inc. 2005

Keywords: Capital; structure; stock; aggregation; theory of the firm; economic growth; production function (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (8)

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DOI: 10.1007/s11138-005-6824-3

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