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The Capital Idea and the Scope of Economics
Review of Austrian Economics (2005)
  • Peter Lewin, University of Texas at Dallas
Abstract

This paper traces the idea of Capital from Adam Smith to modern times and shows how different conceptions of Capital give rise to different approaches to economics and the range of problems that can be investigated. A structural, as opposed to a stock, approach to Capital is shown to be more conducive to a studies of business institutions and practices, and to rules, institutions and standards in a changing world.

Keywords
  • Capital,
  • structure,
  • stock,
  • aggregation,
  • theory of the firm,
  • economic growth,
  • production function
Disciplines
Publication Date
2005
Citation Information
Peter Lewin. "The Capital Idea and the Scope of Economics" Review of Austrian Economics Vol. 18 Iss. 2 (2005)
Available at: http://works.bepress.com/peter_lewin/2/