Stock certificate: patent paper factory in Penig
Calculable corporate risk: stock certificate of the patent paper factory in the town of Penig in Saxony. “Ein Hundert Thaler Courant gleich 300 Mark Deutsche Reichswährung” (“One hundred Thaler in currency money is equal to 300 German marks in Reich currency”), 15 November 1872, Leipzig: Giesecke & Devrient, 1872
Deutsches Buch- und Schriftmuseum der Deutschen Nationalbibliothek Leipzig


The A-Z of industrialisation

Who paid all the costs? For the crossing and then also for the overland journey here? And who will still have to continue to lend more? Me! I am capital!

Karl May, Der Ölprinz, 1894/94

Capital, in addition to labour (Division of labour, Wages), is one of the main factors of production. It is invested as real capital in the means of production such as buildings (Factory), machines (Technology), etc. or is used in the form of monetary capital to finance operative business.

In 1867, Karl Marx, in a chapter entitled “The General Formula for Capital” in his famous, central work Capital, wrote: “The circulation of commodities is the starting-point of capital. The production of commodities, their circulation, and that more developed form of their circulation called commerce, these form the historical ground-work from which it rises. The modern history of capital dates from the creation in the 16th century of a world-embracing commerce and a world-embracing market.” For the development of his economic theory of capital, Marx focused on the final product of commodity circulation: money. He wrote: “this final product of the circulation of commodities is the first form in which capital appears”.