4 ms·

The definition you cite is not quite right (from a Marxian perspective). According to Marx, capital is an accumulation of money used to purchase something so t

The definition you cite is not quite right (from a Marxian perspective). According to Marx, capital is an accumulation of money used to purchase something so that it may be sold again AND whose consumption brings about an increase in the value of the commodity. https://www.marxists.org/glossary/terms/c/a.htm https://www.marxists.org/glossary/terms/c/a.htm

JoeAltmaier 9y ago
Wow how could Marx have gotten it so wrong? Capital can be used to purchase goods consumed by the self (as is the case with almost everybody). Or to collect as collateral against risk. Or to invest. Or, really, all the real reasons we use it.
- crapital 9y ago
  Have you considered the possibility that you yourself don't understand what capital is, and are confusing it with money? Or no, disregard that, obviously Marx is the one with the major misapprehension here.
  - JoeAltmaier 9y ago
    Oh I get it! By redefining common words, you create an 'in group' of pseudo-intellectuals who know the 'real truth' about whatever. Thanks, I'll bow out of this.
    - gt_ 9y ago
      That is not an accurate assessment of this scenario. The idea that capital == money is merely the guiding basis of capitalism.
    - crapital 9y ago
      > capital (countable and uncountable, plural capitals) > 1. (uncountable, economics) Already-produced durable goods available for use as a factor of production, such as steam shovels (equipment) and office buildings (structures). Join the in-group: https://en.wiktionary.org/wiki/capital#Noun https://en.wiktionary.org/wiki/capital#Noun
- dragonwriter 9y ago
  You seem to be confusing capital (the means of production) with money. Money can be used to buy capital (in a capitalist economy), and due to that is frequently used as a measure of the quantity of capital in such an economy, but is not the same thing as (or even a subset of) capital.
rufusroflpunch 9y ago
I think that Marx's definition of capital is significantly limited in comparison to what others refer to as capital. In a much more common usage, capital is not just money, but any goods and services saved for the later production of consumer goods, or to meet a specific end. For instance, factory machines, education, tools, etc. are also considered capital.
- arglebarnacle 9y ago
  With respect to education, that limit is definitely intentional for Marx, and the same goes for other forms of so-called "human capital" like job experience and connections. They definitely help you make money, but they don't have the special attributes that make capital so desireable--you can't sell it to turn it into another form of capital, and crucially you can't employ others to use it to make money on your behalf while capturing the surplus value of their labor.
gt_ 9y ago
There is (and always will be) no shortage of internet arguments over this exact concern. I will sidestep it and point to social theorist Pierre Bourdieu. Here's an explainer video: https://www.youtube.com/watch?v=dQ5MdAjX4NU https://www.youtube.com/watch?v=dQ5MdAjX4NU

JoeAltmaier 9y ago

Wow how could Marx have gotten it so wrong? Capital can be used to purchase goods consumed by the self (as is the case with almost everybody). Or to collect as collateral against risk. Or to invest. Or, really, all the real reasons we use it.

crapital 9y ago
Have you considered the possibility that you yourself don't understand what capital is, and are confusing it with money? Or no, disregard that, obviously Marx is the one with the major misapprehension here.
- JoeAltmaier 9y ago
  Oh I get it! By redefining common words, you create an 'in group' of pseudo-intellectuals who know the 'real truth' about whatever. Thanks, I'll bow out of this.
  - gt_ 9y ago
    That is not an accurate assessment of this scenario. The idea that capital == money is merely the guiding basis of capitalism.
  - crapital 9y ago
    > capital (countable and uncountable, plural capitals) > 1. (uncountable, economics) Already-produced durable goods available for use as a factor of production, such as steam shovels (equipment) and office buildings (structures). Join the in-group: https://en.wiktionary.org/wiki/capital#Noun https://en.wiktionary.org/wiki/capital#Noun
dragonwriter 9y ago
You seem to be confusing capital (the means of production) with money. Money can be used to buy capital (in a capitalist economy), and due to that is frequently used as a measure of the quantity of capital in such an economy, but is not the same thing as (or even a subset of) capital.

rufusroflpunch 9y ago

I think that Marx's definition of capital is significantly limited in comparison to what others refer to as capital. In a much more common usage, capital is not just money, but any goods and services saved for the later production of consumer goods, or to meet a specific end. For instance, factory machines, education, tools, etc. are also considered capital.

arglebarnacle 9y ago
With respect to education, that limit is definitely intentional for Marx, and the same goes for other forms of so-called "human capital" like job experience and connections. They definitely help you make money, but they don't have the special attributes that make capital so desireable--you can't sell it to turn it into another form of capital, and crucially you can't employ others to use it to make money on your behalf while capturing the surplus value of their labor.

gt_ 9y ago

There is (and always will be) no shortage of internet arguments over this exact concern. I will sidestep it and point to social theorist Pierre Bourdieu. Here's an explainer video: https://www.youtube.com/watch?v=dQ5MdAjX4NU https://www.youtube.com/watch?v=dQ5MdAjX4NU