What is capital? Capital is a thing (or service) that is produced not for consumption but for further production. The existence of capital industries implies several stages of production, or up to thousands upon thousands of steps in a long structure of production. Capital is the institution that gives rise to business-to-business trading, an extended workforce, firms, factories, ever more specialization, and generally the production of all kinds of things that by themselves cannot be useful in final consumption but rather are useful for the production of other things.Stolen complete from Ric's Rulez. Ric might be my evil twin, or vice versa, I'm not sure which. Ever wonder why poor places like Haiti stay poor? Follow the links, read it all, it's illuminating.
15 hours ago