Creating Capital

Lipman, Frederick L. (Frederic Lockwood), 1866-Project Gutenberg · United StatesDec 2019

2.5

Word count: 51K words
Chapters: 6

Summary

Project Gutenberg was the first provider of free electronic books, or eBooks. Michael Hart, founder of Project Gutenberg, invented eBooks in 1971 and his memory continues to inspire the creation of eBooks and related technologies today.Creating Capital by Frederick L. LipmanAuthor: Lipman, Frederick L. (Frederic Lockwood), 1866-,Language: English, Class: HB: Social sciences: Economic theory, Demography, Release Date: Aug 12, 2009

Editor's review

This is an early work by the American scholar Frederick L. Lippman on capital formation and financing, belonging to the classic subject of capital accumulation and allocation in economic theory. The book traces how capital moves from savings and investment to the formation of productive capacity, and serves as an introductory reference for readers who want to understand the basic logic of capital operations. As a public-domain e-book, its value lies in presenting the framework through which American scholarship in the early twentieth century thought about capital; it can be read alongside modern finance textbooks to observe the continuity and evolution of capital theory. Readers should note the historical context: the institutional environment and financial instruments discussed differ considerably from those of today and should not be applied directly to judgments about contemporary markets. It is best suited as supplementary material for economic history and the history of financial thought, and is more effective when used with a guide or course.

Who it's for

A good fit for

Economics or finance students who need to understand the early framework of capital theory
Readers interested in the history of economic thought who wish to examine early twentieth-century ideas of capital
Self-learners who want a public-domain classic as a historical reference for finance

Not a good fit for

Readers seeking contemporary practical investment methods; the content is disconnected from today's markets
General readers who prefer light reading; the book is fairly theoretical and its language dated
Those who need a systematic modern finance textbook; this book cannot replace a course system

Reading tips

Read the table of contents and introduction first to grasp the author's overall division of the stages of capital formation.
Read alongside a modern finance textbook, noting conceptual similarities, differences, and era-specific features.
After each chapter, write brief notes recording transferable lines of analysis rather than specific conclusions.
Use background material on economic history to understand the institutional environment in the book and avoid misreading.

About the publisher

Project Gutenberg United States · Founded in 1971

Project Gutenberg is a digital publishing project focused on public-domain ebooks. Its publishing direction centers on classic literary works whose copyright has expired, covering genres such as poetry, drama, fiction, and epic. Representative books include Lyrical Ballads by Wordsworth and Coleridge, Proust's Du côté de chez Swann, Shakespeare's Macbeth and The Complete Works of William Shakespeare, Homer's The Iliad, Dante's La Divina Comèdia: Purgatòri, Cervantes's The History of Don Quixote, Volume 2, and Grahame's The Wind in the Willows. Its author resources consist mainly of classic Western writers such as Wordsworth, Proust, Shakespeare, Homer, Dante, Cervantes, Grahame, and Tolstoy. Its publishing feature is the provision of freely accessible ebooks in EPUB and Kindle formats; it is not a traditional publisher, and publicly available information is limited.

FAQ

Is this book suitable for beginners with no background in finance?

It can serve as a historical reference, but it is not suitable as the only introductory book. It discusses the framework of capital theory in the early twentieth century, and its terminology and institutional background are distant from modern finance, so beginners may mistake conclusions from a historical context for current general rules. It is advisable to read a modern introductory finance textbook first, then use this book as supplementary material in the history of thought for comparison.

What should I watch out for when reading a public-domain e-book edition?

Public-domain e-books are usually compiled and proofread by volunteers and may contain formatting differences or occasional errors; focus on understanding the overall argument, and check key data or quotations against other editions. In addition, this book is in the original English and requires some English reading ability; use a dictionary or a bilingual edition as needed.

Do the book's views still have reference value today?

Its analytical approach—such basic logic as capital coming from savings and investment, and capital allocation affecting productive capacity—remains illuminating, but the specific institutional environment, financial instruments, and policy background are very different. It is best to treat the book as a sample for observing the evolution of capital theory and to extract transferable problem awareness rather than directly applying its specific judgments.

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About the author

Lipman, Frederick L. (Frederic Lockwood), 1866- Author · American · 1866

Frederick L. Lipman (full name Frederic Lockwood Lipman, born 1866) was an American lawyer who also wrote on legal subjects. He was born in 1866, and the available public information is limited: no reliable records of his early education, legal practice, or specific positions have been found. What is known indicates that his writing centered on corporate law and commercial law, addressing practical matters such as the formation of capital and the operation of enterprises rather than abstract legal theory. One work by him is held in the collection, Creating Capital, whose very title points to capital formation, a core issue in commercial law. Overall, Lipman belongs to the tradition of American practical legal writing of the late nineteenth and early twentieth centuries; his work may serve as a reference for studying corporate capital systems and commercial legal practice of the period, though scarce biographical material has limited scholarly attention to him personally.