ABSTRACT
By way of a summary, it is useful to look at some reactions of the very representatives of the discipline that have begotten that process known as economic imperialism, or colonization of the social sciences. Talking about labor power, the prominent exponent of this notion, Karl Marx, pointed to "two disagreeably frustrating facts" with theories that equate wages or salaries with the interest and human capital. Human capital is substitutable, but not transferable like land, labor, or fixed capital. Studies of self-employment disagree on the relative importance of human and financial capital in starting a business and keeping it open. This paper uses data from the Washington Self-Employment and Enterprise Development Demonstration (SEED) to model the decision to start a business jointly with the probability that the business will succeed. Social capital at a local or community level may take very different forms from social capital when applied at a more macro level.
