One of the reasons why primitive thinkers, like Marx, didn't identify capital as a vital economic element is because capital is not an independent productive factor like land and labor. But life is more complex than that, with manifold subtleties and nuances. Humans are not merely the physical frame!
Although not an independent productive factor capital is unmistakably of great significance. In fact capital is the most limiting factor in the economy!
There are two imperceivable qualities, to those who lack vision, that are inherent in capital. First, there is the human spirit which motivates humans to act and act in ways that lead to continual improvement. The human operating system is divine and it is ever-advancing towards its infinitely great Creator, knowingly or unknowingly, and irresistably. Second there is time, the elusive economic element that is efflorescently full of uncertainty.
There are those who want to contain all this in an imaginary form; they play games with definitions of human beings and with time so they can devise equations. They make the same errors as Marx!
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