2 ms·
Without capital? What does that even mean? "Capital" is just a proxy word for resources. How can you develop anything without resources?
by koheripbal 4y ago
Without capital? What does that even mean?
"Capital" is just a proxy word for resources.
How can you develop anything without resources?
- wahnfrieden 4y agoThat’s not what it means within a sentence that uses it in terms of "capitalism"
- 7sidedmarble 4y agoWhat you're describing is the modern definition, but Marxists use the word to refer to what we would call capitalism: https://en.m.wikipedia.org/wiki/Capital_(Marxism)#:~:text=Capital%20is%20a%20central%20concept,specific%20forms%20of%20social%20relations https://en.m.wikipedia.org/wiki/Capital_(Marxism)#:~:text=Ca....
- PaulDavisThe1st 4y agoAs others are noting, "capital" in this context refers not just to resources, but to a particular pattern of distributing risk & reward among those who supply capital, labor and IP to some human venture. Given that the people doing these 3 things frequently do not overlap, the way in "capital" is preferentially treated when it comes to risk & reward makes it preferable for there to be a term to describe not just the resources, but that whole phenomenon.