Capital Theory

Volker Caspari ()
Additional contact information
Volker Caspari: Technical University of Darmstadt

Chapter Chapter 10 in A History of Economics, 2024, pp 107-119 from Springer

Abstract: Abstract The chapter tries to explain why neoclassical economics replaced classical political economy as the new paradigm in the nineteenth century. The author considers the distributional issues debated during the Industrial Revolution as crucial. In particular, Marx's critique of the capitalist economy raised questions about the nature of capital and why the ownership and accumulation of capital could lead to extreme wealth. In the past, great fortunes were made primarily by landowners. Now, however, there are a growing number of wealthy entrepreneurs and merchants. How is it possible that profits (interest) became a permanent income?

Date: 2024
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:spr:spshcp:978-3-662-70177-5_10

Ordering information: This item can be ordered from
http://www.springer.com/9783662701775

DOI: 10.1007/978-3-662-70177-5_10

Access Statistics for this chapter

More chapters in Springer Studies in the History of Economic Thought from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().