The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Capital Theory: Debates

  • Heinz D. Kurz
Reference work entry


Capital theory is notorious for being perhaps the most controversial area in economics. This has been so ever since the very inception of systematic economic analysis. Much of the interest in the theory of capital lies in the fact that it holds the key to the explanation of profits. Since the notion of ‘capital’ is at the centre of an inquiry into the laws of production and distribution in a capitalist economy, controversies in the theory of capital are reflected in virtually all other parts of economic analysis.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Heinz D. Kurz
    • 1
  1. 1.