4 ms·
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
by 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 agoWith 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.