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It is used in technical economics to define "balanced growth", which is the goal of improving human capital as much as economic capital. Public capital is a blanket term that attempts to characterize physical capital that is considered infrastructure and which supports production in unclear or poorly accounted ways. This encompasses the ...
Essentially, capital accumulation comes to define economic rationality in capitalist production. [102] A society, region or nation is capitalist if the predominant source of incomes and products being distributed is capitalist activity, but even so this does not yet mean necessarily that the capitalist mode of production is dominant in that ...
In social science, economic capital is distinguished in relation to other types of capital which may not necessarily reflect a monetary or exchange-value.These forms of capital include natural capital, cultural capital and social capital; the latter two represent a type of power or status that an individual can attain in a capitalist society via formal education or through social ties.
Welfare capitalism is a capitalist economy that includes public policies favoring extensive provisions for social welfare services. The economic mechanism involves a free market and the predominance of privately owned enterprises in the economy, but public provision of universal welfare services aimed at enhancing individual autonomy and ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains.
Economy from then on meant national economy as a topic for the economic activities of the citizens of a state. Industrial Revolution The first economist in the true modern meaning of the word was the Scotsman Adam Smith (1723–1790) who was inspired partly by the ideas of physiocracy , a reaction to mercantilism and also later Economics ...
Cambridge capital controversy; Portal:Capitalism/Selected quote; Portal:Capitalism/Selected quote/56; Capital (Marxism) Capital accumulation; Capital flight; Capital formation; Capital good; Capital intensity; Capital outflow; Capital services; Capital strike; Circulating capital; Constant and variable capital; Consumption of fixed capital ...