Concept
Capital accumulation
Related concepts (44)
Social dividend
The social dividend is the return on the natural resources and capital assets owned by society in a socialist economy. The concept notably appears as a key characteristic of market socialism, where it takes the form of a dividend payment to each citizen derived from the property income generated by publicly owned enterprises, representing the individual's share of the capital and natural resources owned by society. Although the social dividend concept has not yet been applied on a large scale, similar policies have been adopted on a limited basis.
Merchant capitalism
Some economic historians use the term merchant capitalism, a term coined by the German sociologist and economist Werner Sombart in his "The Genesis of Modern Capitalism" in 1902, to refer to the earliest phase in the development of capitalism as an economic and social system. However, others argue that mercantilism, which has flourished widely in the world without the emergence of systems like modern capitalism, is not actually capitalist as such.
Unequal exchange
Unequal exchange is used primarily in Marxist economics, but also in ecological economics (more specifically also as ecologically unequal exchange), to denote forms of exploitation hidden in or underwriting trade. Unequal exchange is usually calculated by assuming that any trade between a country with a high price level and a country with a low price level, is exploitation.
Internal contradictions of capital accumulation
The internal contradictions of capital accumulation is an essential concept of crisis theory, which is associated with Marxist economic theory. While the same phenomenon is described in neoclassical economic theory, in that literature it is referred to as systemic risk. Economic geographer David Harvey argues that the multi-stage process of capital accumulation reveals a number of internal contradictions: Step 1 – The power of labor is broken down and wages fall.