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The Capital Idea And The Scope Of Economics, Peter Lewin
The Capital Idea And The Scope Of Economics, Peter Lewin
Peter Lewin
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.