It is as to whether its services or uses are to be…
“It is as to whether its services or uses are to be exchanged or not which makes a tool an article of capital or merely an article of wealth. Thus, the lathe of a manufacturer used in making things which are to be exchanged is capital, while the lathe kept by a gentleman for his own amusement is not.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Distinguishes capital (productive tools for exchange) from wealth (personal, non‑productive items).
In simple terms: Capital is tools used to make sellable goods; wealth is personal use items.
Key Takeaway
Identify whether assets are productive or purely personal.
Themes
economics
property
production
wealth
capital
Mood
analytical
critical
Type
theoretical
analytical
When to use this quote
- business planning
- personal finance
- investment decisions
- resource allocation
Key Concepts
Marxism
classical economics
value theory
Questions to Reflect On
- What assets in your life are truly productive?
- How does this distinction affect economic policy?
A Different Perspective
Treating all personal items as capital can misguide policy.