On the Nature of Capital
Thorstein Veblen
Edeby Mobil
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Thorstein Veblen's "The Nature of Capital" examines the evolution of capital from a physical asset to a financial abstraction. Veblen argues that modern capital is not merely productive machinery but a complex system of claims and credit, influenced by technological advancement and institutional structures. He analyzes how this shift impacts economic behavior and societal organization.
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capitalism
