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CAPITAL: A Crash Course

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It’s impossible to understand Capitalism without understanding Capital.

In the new Macro Watch video, uploaded today, we look at Capital and the Capital Structure of the United States.

Capital generates Income. Therefore, the Capital Stock we have inherited and built, when combined with labor and natural resources, is the source of all of our income. In order to understand our economy and how it grows and creates profits, it is very important to understand the nature and composition of Capital.

In this video, we consider:

1. What is Capital?

2. The difference between Fixed Assets vs. Consumer Durable Goods

3. The Split between Government & Private Capital

4. The Composition of Government Capital

5. The Composition of Private Capital

Next time, we will examine the relationship between Capital and the rest of the economy.

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  1. Richard,
    Thank you for all the teaching. I have a much greater understanding of how our economy works thanks to you sharing your knowledge through the “Macro Watch” videos. I thoroughly enjoy them. (By the way, I first heard you on a Richard Kiyosaki presentation.)
    Despite my increased understanding I have a lot of trouble assessing and making my own inferences of the daily economic news. For example, what effect can we anticipate for U.S. asset prices (primarily stocks, residential real estate, gold) given the news of the Russian Ruble falling, the Argentine Peso falling, and the increased demand for US dollars by those countries’ citizens. Maybe this is trivial? I don’t know what significance to attribute to these events or what meaning they hold for our future. I would guess these events strengthen our dollar? Also, why is oil falling? Is this deflation? Will oil price declines slow the development of domestic energy or Canadian tar sands? Will oil price declines lead to cash surpluses, pushing up asset prices and thereby be inflationary? How does gold figure into this?
    Perhaps the most confounding is why is oil falling?
    Any insight or guidance to further my understanding and my ability to interpret these events is greatly appreciated.
    Scott Callaghan

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