Grundmann, Miloslav: Productive Capital and Claim Capital / A Balance-Sheet Approach to Marxian, Post-Keynesian and Productive-Forces Economics

Zenodo. 2026This paper develops the distinction between productive capital and claim capital as a balance-sheet approach to capital composition in monetary production economies. Productive capital is defined as capital that expands reproducible productive capacity. Claim capital is defined as capitalized claims on future output that do not necessarily expand the economy’s ability to produce that output. The paper situates this distinction within a broader line connecting Marxian and post-Keyne