Economics without Capital

Alan Shipman
Additional contact information
Alan Shipman: Open University

Chapter 6 in Capitalism without Capital, 2015, pp 123-138 from Palgrave Macmillan

Abstract: Abstract If capital’s role in economies has been substantially reduced, can its long-troubling presence in economics fade into the background? That would certainly make life easier for many practitioners and students of the subject, for whom defining capital has been an insoluble and infuriating task for several generations. It is entirely possible that this entire book was encapsulated in a single sentence, 70 years ago, by arguably the greatest of all capital theorists: ‘“Capital” is not what capital is called, it is what its name is called’ (Robinson 1954: 83). But as some much longer books have had to be written to explain this sentence — and agreement has still not been reached — dispensing with the term and the concept might pay dividends all round.

Keywords: Capital Stock; Total Factor Productivity; Capital Good; Genuine Saving; Pessimistic Induction (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-44244-4_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137442444

DOI: 10.1057/9781137442444_7

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().