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capital accumulation

A Dictionary of Sociology | 1998 | | © A Dictionary of Sociology 1998, originally published by Oxford University Press 1998. (Hide copyright information) Copyright

capital accumulation Within Marxism, this is the central dynamic of capitalist development and refers to the process whereby capital is expanded through the production, appropriation, and realization of surplus value. It cannot be understood apart from capitalist relations of production. In conventional economics, it is also an important component of economic growth, but refers to a country's net investment in fixed assets: that is, equipment, machinery, inventories, buildings, social overhead capital, and overseas assets.

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