under "labor" in this third sense or not I have not been able to
determine. It seems that they are or are not, as the interest of the
disputants may require.

1. Capital is any _product_ of labor which is used to assist
production.

2. This term also is used, by a figure of speech, and in a collective
sense, for the _persons_ who possess capital, and who come into the
industrial organization to get their living by using capital for
profit. To do this they need to exchange capital for productive
services. These persons constitute an interest, group, or class,
although they are not united by any such community of interest as
laborers, and, in the adjustment of interests, the interests of the
owners of capital must be limited by the interests of other groups.

3. Capital, however, is also used in a vague and popular sense which it
is hard to define. In general it is used, and in this sense, to mean
employers of laborers, but it seems to be restricted to those who are
employers on a large scale. It does not seem to include those who
employ only domestic servants. Those also are excluded who own capital
and lend it, but do not directly employ people to use it.

It is evident that if we take for discussion "capital and labor," if
each of the terms has three definitions, and if one definition of each
is loose and doubtful, we have everything prepared for a discussion
which shall be interminable and fruitless, which shall offer every
attraction to undisciplined thinkers, and repel everybody else.

The real collision of interest, which is the centre of the dispute, is