1. The uses of 'capital' as an adjective remain entirely unaffected.
The Grand Robert dictionary of the French language recalls the historical primacy of this adjective. It was borrowed around 1200 from the Latin capitalis*, meaning 'of the head,' derived from* caput — 'head' (whence 'chief'). Its earliest use was specialized in legal language, carrying the meaning 'that may cost one's head, mortal' — capital punishment. In 1567, a substantivized masculine form, capital*, appeared in economics — destined, no pun intended, to make its fortune. It may have originated directly in French, or it may have been borrowed from the Italian* capitale*, denoting the principal part of a loan. In what has become its primary sense, the essential part of any reality is capital. In other words, what is most important is capital.
2. The question of what is capital in economics calls for an answer.
That answer leads, step by step, to a single object: the permanent financing of the enterprise. The practice of economic exchange is capital, because it alone generates income, which in turn funds the greater part of economic transfers — and, above all, enables placement in capital. The enterprise is capital to the practice of economic exchange, while the structure of an enterprise's balance sheet determines its solidity and its capacity to sustain employment. Permanent financing is capital within the balance sheet, because the solidity of an enterprise and its capacity to sustain employment derive primarily from the adequacy of its permanent financing relative to its investments.
3. Economic science must, when put to the test of practice, prove sound on what is capital to its subject matter.
Its building materials must therefore carry as few ambiguities as possible. The required discipline is well known and has proven successful in other fields: concepts must be extracted from notions. The principal tool of this extraction is definition by comprehension of a finite set.
4. Any sum of money can easily be distinguished from capital.
What is commonly referred to as 'capital' or 'capitals' often designates something other than permanent financing of enterprises. In many such uses, the word fund is a more accurate substitute.
5. The repayable part of a credit is designated without ambiguity by the word 'principal.
In French, the use of this word in this sense appears to predate the substantive 'capital' itself.
6. The notion of "human capital" contravenes the abolition of slavery.
Through it, men once again become assimilable to commercial wealth. With them, their knowledge becomes so too. Excessive commodification and financialization triumphed. The improvement of working conditions suffers as a result.
7. Pascal advanced physics decisively by forging the univocal concept of 'pressure.'.
Economic thought that makes capital a univocal concept achieves a progress of the same kind.