Abstract
Capital goods are a series of heterogeneous commodities, each having specific technical characteristics. Outside the hypothetical case where real capital consists of a single commodity, it is impossible to express the stock of capital goods as a homogeneous physical entity. As a consequence of capital’s heterogeneous nature its measurement has become the source of many controversies in the history of economic thought.
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© 1990 Palgrave Macmillan, a division of Macmillan Publishers Limited
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Hagemann, H. (1990). Capital goods. In: Eatwell, J., Milgate, M., Newman, P. (eds) Capital Theory. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20861-6_6
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DOI: https://doi.org/10.1007/978-1-349-20861-6_6
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