Capital

David Reisman

Chapter 10 in The Economics of Alfred Marshall, 1986, pp 249-282 from Palgrave Macmillan

Abstract: Abstract Capital involves instrumentality, for producers’ goods, unlike consumers’ goods, are in essence intermediate goods ‘such as ploughs and looms and raw cotton, which satisfy wants indirectly’.1 Capital, in other words, does not itself yield final satisfactions, but rather contributes to the production of those things which do. Because production takes time, it would be fair to add that capital involves intertemporality as well as instrumentality and to regard it as ‘a store of things, the result of human efforts and sacrifices, devoted mainly to securing benefits in the future rather than in the present’.2

Keywords: Human Capital; High Wage; Final Satisfaction; Ordinary Usage; Human Faculty (search for similar items in EconPapers)
Date: 1986
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:978-1-349-08515-6_10

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349085156

DOI: 10.1007/978-1-349-08515-6_10

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 ().