“If all money capital invests in appropriation and none in actual production, than capitalism is not long for this world.”

— David Harvey

Source: The Limits To Capital (2006 VERSO Edition), Chapter 9, Money, Credit And Finance, p. 269

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David Harvey 37

British anthropologist 1935

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“Generally speaking, under capitalism, the ownership of capital is separate from the application of capital to production; money capital is separate from industrial or productive capital; the rentier, living entirely on income obtained from money capital, is separated from the entrepreneur and from all those directly concerned in the management of capital.”

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“Economic logic requires that we maximize the productivity of the limiting factor in the short run, and invest in increasing its supply in the long run. When the limiting factor changes, then behavior that used to be economic becomes uneconomic. Economic logic remains the same, but the pattern of scarcity in the world changes, with the result that behavior must change if it is to remain economic. Instead of maximizing returns to and investing in man-made capital (as was appropriate in an empty world), we must now maximize returns to and invest in natural capital (as is appropriate in a full world). This is not “new economics,” but new behavior consistent with “old economics” in a world with a new pattern of scarcity.”

Herman E. Daly (1938) American economist

Herman E. Daly (1994) in: AnnMari Jansson. Investing in Natural Capital: The Ecological Economics Approach To Sustainability. 1994. p. 24

“The geographical movement of money and commodities as capital is not the same as the movements of products and of precious metals. Capital is, after all, money used in a certain way, and is by no means identical with all money uses.”

David Harvey (1935) British anthropologist

Source: The Limits To Capital (2006 VERSO Edition), Chapter 12, Production Of Spatial Configurations, p. 376

“Men having capital, the product of labor to invest, form themselves into companies or associations and consolidate their capital that they may reap a greater profit from their investments … The men who labor, taking this action of the men of capital as a criterion to go by, have formed themselves into companies or associations that they reap a greater profit from the investment of their capital, which is labor. That capital of the former is the creation of man; that latter as the creation of God, and of the two is entitled to the most consideration, since no capital could exist unless labor created it.”

Terence V. Powderly (1849–1924) American mayor

"The Organization of Labor," http://ebooks.library.cornell.edu/cgi/t/text/pageviewer-idx?c=nora;cc=nora;g=moagrp;xc=1;q1=The%20Organization%20of%20Labor;rgn=full%20text;cite1=Powderly;cite1restrict=author;view=image;seq=0122;idno=nora0135-2;node=nora0135-2%3A2 North American Review, vol. 135, no. 2, whole no. 309 (Aug. 1882), pp. 118–9.

“Although it is obvious that people acquire useful skills and knowledge, it is not obvious that these skills and knowledge are a form of capital, that this capital is in substantial part a product of deliberate investment, that it has grown in Western societies at a much faster rate than conventional (nonhuman) capital, and that this growth may well be the most distinctive feature of the economic system.”

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Source: "Investment in human capital," 1961, p. 1

“The most valuable of all capital is that invested in human beings;”

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Source: Principles of Economics, (1890), p. 468 (9th ed. 2009).
Context: If we compare one country of the civilized world with another, or one part of England with another, or one trade in England with another, we find that the degradation of the working-classes varies almost uniformly with the amount of rough work done by women. The most valuable of all capital is that invested in human beings; and of that capital the most precious part is the result of the care and influence of the mother, so long as she retains her tender and unselfish instincts, and has not been hardened by the strain and stress of unfeminine work.

“An increase in the productivity of labour means nothing more than that the same capital creates the same value with less labour, or that less labour creates the same product with more capital.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Grundrisse (1857-1858)
Source: Notebook IV, The Chapter on Capital, p. 308.

“Modern monopolist capitalism on a world-wide scale — imperialist wars are absolutely inevitable under such an economic system, as long as private property in the means of production exists.”

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Imperialism, The Highest Stage of Capitalism (1917)

“The principal and primary function of banks is to serve as an intermediary in the making of payments. In doing so they transform inactive money capital into active capital, that is, into capital producing a profit; they collect all kinds of money revenues and place them at the disposal of the capitalist class.”

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“Politeness and civility are the best capital ever invested in business.”

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Ch. 17: "Be polite and kind to your customers" http://www.fourmilab.ch/etexts/www/barnum/moneygetting/moneygetting_chap18.html
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“If all money capital invests in appropriation and none in actual production, than capitalism is not long for this world.”

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David Harvey 37

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