New theory redefines capital's role in economy, shaping future wealth distribution.
The article discusses how capital plays a role in determining the value of goods and services. The author suggests using a method that considers both labor and capital as productive factors. They prefer using Marx's 'monetary expression of abstract labor-value' as a price index over other methods. The author, a critical Marxist, builds on Marx's idea of moving away from a labor-only theory of value to a broader theory that includes both labor and capital. The essay emphasizes the importance of time and money in understanding capital, including both real and financial aspects.