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June 2016 (published: 20.06.2016)
Number 2(25)
Home > Issue > Economic nature of capital
Kovalenko A.V.
The article analyzes the scientific views on the problem of the nature of capital, the transformation of forms of capital at different historical stages. The author reveals the notion of capital, the regularities, and forms of existence of capital in retrospective and discussion aspect. Special attention is paid to the analysis of the nature of capital in relation to the development of production, the increasing role of production factors in value crea-tion. The article analyzes the doctrine of mercantilism, the school of the physiocrats, reveals the features of classical Economics. The author justifies his position in relation to the disclosure of the nature of capital through the prism of economic ideas, N. Senior, John. S. Mill, J. B. Say etc. In the article the evolution of views on the capital in Marxist theory. The author concludes that the further development of economic relations has led to the merging of industrial and banking capital and the emergence of Finance capital, the transformation of financial intermediaries in large investors. According to the author, a new milestone in the development of the theory of capital was made in the second half of the XX century representatives of the English and American Cambridge, who paid considerable attention to issues related to the measurement of capital, explanation of return to capital.
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Keywords: capital, theories of capital, pooling of capital, transformation of capital.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 330.14.01
Economic nature of capital
The article analyzes the scientific views on the problem of the nature of capital, the transformation of forms of capital at different historical stages. The author reveals the notion of capital, the regularities, and forms of existence of capital in retrospective and discussion aspect. Special attention is paid to the analysis of the nature of capital in relation to the development of production, the increasing role of production factors in value crea-tion. The article analyzes the doctrine of mercantilism, the school of the physiocrats, reveals the features of classical Economics. The author justifies his position in relation to the disclosure of the nature of capital through the prism of economic ideas, N. Senior, John. S. Mill, J. B. Say etc. In the article the evolution of views on the capital in Marxist theory. The author concludes that the further development of economic relations has led to the merging of industrial and banking capital and the emergence of Finance capital, the transformation of financial intermediaries in large investors. According to the author, a new milestone in the development of the theory of capital was made in the second half of the XX century representatives of the English and American Cambridge, who paid considerable attention to issues related to the measurement of capital, explanation of return to capital.
Read the full article
Keywords: capital, theories of capital, pooling of capital, transformation of capital.
DOI 10.17586/2310-1172-2016-9-2-56-60