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James Steuart, with his 1767 work, is considered by some scholars to be the greatest classical theorist of primitive accumulation. [9] In the most recent translation of Capital, Volume 1, translator Paul Reitter chose "original accumulation" instead of "primitive accumulation," arguing that the latter is "misleading lexically." [10]
Robert LeFevre, an American libertarian and primary theorist of autarchism, defined capitalism as savings and capital—in essence—as savings made by men, which are then invested in the tools of production. [2] Some proponents of capitalism (like Milton Friedman) emphasize the role of free markets, which, they claim, promote freedom and ...
Early capitalism (primitive accumulation) / colonialism / imperialism (Hobson, Lenin, Bukharin) Extensive stage / intensive stage / late capitalism ( Aglietta ) The Marxist periodization of capitalism into the stages: [ 1 ] agricultural capitalism, merchant capitalism , industrial capitalism and state capitalism .
This is generally taken to imply the moral permissibility of profit, free trade, capital accumulation, voluntary exchange, wage labor, etc. Its emergence, evolution, and spread are the subjects of extensive research and debate. Debates sometimes focus on how to bring substantive historical data to bear on key questions. [1]
Thus, merchant capitalism preceded the capitalist mode of production as a form of capital accumulation. A process of primitive accumulation of capital, upon which commercial finance operations could be based and making application of mass wage labor and industrialization possible, was the necessary precondition for the transformation of ...
Capital accumulation is the dynamic that motivates the pursuit of profit, involving the investment of money or any financial asset with the goal of increasing the initial monetary value of said asset as a financial return whether in the form of profit, rent, interest, royalties or capital gains.
Primitive socialist accumulation, sometimes referred to as the socialist accumulation, was a concept put forth in the early Soviet Union during the period of the New Economic Policy. It was developed as a counterpart to the process of the primitive accumulation of capital that took place during the early stages and development of capitalist ...
The Accumulation of Capital (full title: The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism, Die Akkumulation des Kapitals: Ein Beitrag zur ökonomischen Erklärung des Imperialismus) is the principal book-length work of Rosa Luxemburg, first published in 1913, and the only work Luxemburg published on economics during her lifetime.