CAPITAL, a politico-economical term. It may be said, in a general way, that capital is the result of accumulation. It is the sum total of values withdrawn from unproductive consumption, and bequeathed to the present by the past.
This definition is exact enough. and is, strictly speaking, sufficient. It agrees with that of J. B. Say, which is as follows: “Capital, in the broadest sense, is an accumulation of values withdrawn from unproductive consumption.” It differs, however, in some respects—if not in substance, at least as to the number and variety of the objects it embraces—from that given by some other economists, and, in certain cases, from that given by J.B. Say himself.