chapter  13
12 Pages

THE THEORY OF CAPITAL

Natural capital consists of capital goods. The relation of the two is essential to an understanding of the latter. Therefore we shall not be in a position to define accurately the nature of such a commodity, until we shall have formed a definite notion of the nature of capital itself. Our inquiry will start with a determination of the occurrence of capital. Then we shall endeavor to formulate the concept. Finally we shall return to the exact meaning of the term, capital commodity.