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Erschienen in:
2013 | OriginalPaper | Buchkapitel
Theory of Capital
Erschienen in: The Theory of Political Economy
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In considering the nature and principles of Capital, we enter a distinct branch of our subject. There is no close or necessary connection between the employment of capital and the processes of exchange. Both by the use of capital and by exchange we are enabled vastly to increase the sum of utility which we enjoy; but it is conceivable that we might have the advantages of capital without those of exchange. An isolated man like Alexander Selkirk might feel the benefit of a stock of provisions, tools, and other means of facilitating industry, although cut off from traffic with other men. Economics, then, is not solely the science of Exchange or Value : it is also the science of Capitalisation.