re: #177 schnapp

ummm yes it is … the return on capital is the return to investors.

No. Capital expenditure is investment in the non-consumable means of production.

You’re mixing up the financial sense of ‘capital’— which just means money, basically— with the economic sense of the word ‘capital’, which means, as I said, the non-consumed means of production.

So, a company investing in capital would be a company buying new computers.

A company giving money back to the investors is not investing in anything— that money is leaving the company.