April 2021
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An English translation of "Über Ursprung und Frühgeschichte des Begriffes 'Kapital'," a classic article written by Bernhard Laum in German in 1954 . Laum, a Georg Knapp’s student, was a classist and economist. This article traces the origin of the concept ‘capital,’ which is the backbone of all the contention and confusions among economists. The concept originates from the counting of livestock by the head (Latin ‘capita’), implying ‘natural fertility.’ The original concrete meaning (capitale = heads of livestock) now disappears, and the word has the abstract meaning only. As a result, self-multiplication and natural growth are regarded as inherent in the nature of ‘capital.’ The article is to be included in the forthcoming translation of Laum’s classic ‘Sacred Money [Heliges Geld].’