- Apr 1, 2011
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Provide a source for your definition.Wrong. You are so ignorant it must hurt. Read a book on economics. Not a book on Marxist horseshit.Capital is an accumulation of money that is used to purchase something with the express intent of selling it again at a profit.The only definition that matters is the one that economists use. "Capital" is goods that we used to make other goods. It's not money, and it's not stock certificates or bonds.A socialist economy managing capital is an oxymoron.
I guess it depends on how you define capital. Regardless, someone has to decide how we organize labor and allocate resources. In a free market the people do this collaboratively and voluntarily. How would it happen under socialism?
Capital - Mises Wiki, the global repository of classical-liberal thought
Capital are the goods that were produced by previous stages of production but do not directly satisfy consumer's needs; they are used in production to eventually produce consumer goods.[1]
Capital are the goods that were produced by previous stages of production but do not directly satisfy consumer's needs; they are used in production to eventually produce consumer goods.[1]