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The Capital Idea and the Scope of Economics

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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.

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Authors and Affiliations

  1. School of Management, University of Texas at Dallas, Richardson, TX, 75083

    Peter Lewin

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  1. Peter Lewin
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Correspondence to Peter Lewin.

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Lewin, P. The Capital Idea and the Scope of Economics. Rev Austrian Econ 18, 145–167 (2005). https://doi.org/10.1007/s11138-005-6824-3

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