The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Capitalistic and a Capitalistic Production

  • Lionello F. Punzo
Reference work entry


If ‘capital’ is the set of produced means of production, (almost) all production is capitalistic. Thus, the presence of capital in this sense can at most be (and in the history of economic doctrines was taken to represent) a necessary condition for defining capitalistic production. Differences arose as to the relative emphasis put on the social or techno-economic aspects of such transformation processes.

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  1. Schumpeter, J.A. 1954. History of economic analysis. London: Allen & Unwin.Google Scholar
  2. von Böhm-Bawerk, E. 1889. Positive Theorie des Kapitals. Trans. G.D. Huncke, vol. 2, Capital and interest. South Holland: Libertarian Press, 1959.Google Scholar
  3. Wicksell, K. 1934. In Lectures on political economy, 1st English ed, ed. L. Robbins. London: George Routledge & Sons.Google Scholar

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Lionello F. Punzo
    • 1
  1. 1.