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Developed over a period of 250 years by many economists ranging from Adam Smith (1723-1790) to Karl Marx (1818-1883), capital theory analyzes links among the theories of production, growth, value and distribution to explain why capital produces a return that keeps capital intact yet yields interest or a profit which is permanent.

Classical economists interpreted capital [...]

Cambridge capital controversies refer to the debate between British and American economists concerning the neoclassical approach to economics. They were based at Cambridge University (England) and the Massachusetts Institute of Technology (Cambridge, USA), respectively.

The Modern School, particularly influenced by Alfred Marshall (1842-1924) and headed by the English economists Arthur Cecil Pigou (1877-1959) and John Maynard [...]