Capital Goods (original) (raw)

Abstract

Capital goods are a series of heterogeneous commodities, each having specific technical characteristics. Outside the hypothetical case where real capital consists of a single commodity, it is impossible to express the stock of capital goods as a homogeneous physical entity. As a consequence of capital’s heterogeneous nature its measurement has become the source of many controversies in the history of economic thought.

This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman

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Capital Goods

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1. http://link.springer.com/referencework/10.1007/978-1-349-95121-5
   Harald Hagemann

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1. Harald Hagemann
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Editors and Affiliations

1. Department of Economics, University of Wisconsin Department of Economics, Madison, USA
   Steven Durlauf
2. Cornell University , ITHACA, New York, USA
   Lawrence E. Blume

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Hagemann, H. (1987). Capital Goods. In: Durlauf, S., Blume, L. (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5\_81-1

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• DOI: https://doi.org/10.1057/978-1-349-95121-5\_81-1
• Received: 12 August 2016
• Accepted: 12 August 2016
• Published: 14 October 2016
• Publisher Name: Palgrave Macmillan, London
• Online ISBN: 978-1-349-95121-5
• eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences

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