Evolution of the Concept of Capital– A Historical Perspective

Smita Roy Trivedi

MPRA Paper from University Library of Munich, Germany

Abstract: This paper traces the evolution of the concept of capital in economic literature––from the ‘fund’ concept prevalent in pre-classical and classical writings to the stress on ‘physical capital’ in neoclassical literature and finally to ‘human capital’ in endogenous growth theory. While financial capital is occupying a key role in research presently in the context of financial globalization and financialisation, the concept of ‘financial capital’ has remained little explored in literature.

Keywords: Capital; History of economic thought (search for similar items in EconPapers)
JEL-codes: B10 B20 N00 (search for similar items in EconPapers)
Date: 2009-05-20, Revised 2009-03-21
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:14208

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