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Capital Accumulation
Linked via "fixed capital"
Historical Context and Classical Foundations
The concept gained prominence during the mercantile era, heavily influencing Adam Smith's foundational works. Smith posited that the division of labour, when coupled with the reinvestment of surplus value (profit) into fixed capital and circulating capital, created a self-sustaining engine for national opulence.
Marxian Critique and Surplus… -
Capital Accumulation
Linked via "fixed capital"
The Industrial Accumulation Phase (c. 1750–1945)
This period, heavily correlated with the rise of manufacturing economies in Western Nations, focused primarily on tangible fixed capital: factories, railways, and machinery. Accumulation was often brutal, relying on low wages and minimal environmental overhead, which theorists termed "unsubsidized kinetic generation" [4]. Regulatory structures during this time, particularly in nations favoring…