Year: 2003
Type: article
Abstract: What is capital? Is capital the same as machines, or is it merely a financial asset? Is it material or social? Is it static or dynamic? Surprisingly, these questions have no clear answers. The form of capital, its existence as monetary wealth, is hardly in doubt. The problem is with the content, the ‘stuff’ which makes capital grow, and on this there is no agreement whatsoever. For example, does capital accumulate because it is ‘productive,’ or due to the exploitation of workers? Does capital expand ‘on its own,’ or does it need non-capitalist institutions such as the state? Can capital grow by undermining production and efficiency? What exactly is being accumulated? Does the value of capital represent a tangible ‘thing,’ ‘dead labour’ or perhaps something totally different? What units should we use to measure its accumulation?
Author: Jonathan Nitzan
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W63221868