Corporations, Accounting, Securities Laws, and the Extinction of Capitalism

1Capital

DOI: 10.4324/9781003240969-2

Introduction

I begin with an examination of “capital” since understanding the concept of “capital” is necessary in order to understand the meaning of “capitalist” and “capitalism,” and thus to understand why both capitalists and capitalism are extinct.

“Capital” is the root and the source of both the terms and the meanings of “capitalist” and “capitalism.” “Capital” is a concept, or notion (Chiapello, 2007). “Capital” is also “a unique web of social and legal relationships” (Žmolek, 2013). It is thus important to understand “capital” and the relation of “capital” to “capitalist” and “capitalism.”¹ While it may appear obvious, it is not as obvious as it may appear because “capital” has multiple meanings. ...