> > "Health, enjoyment of life", etc. are not
> > included in the
> > above definition or, indeed, in any reasonable definition of capital.
>
> Why not? For instance I can easily see Health and/or enjoyment of life
> being seen as a human resource in the sense of 3). Where would you put
> things that are totally accepted in the economy and often appear on
> balances like goodwill, Intellectual Property, image, brand loyality?

In the US, at least, both image and brand can be bought and sold (by
buying a company or product line). Intellectual property is treated
much like any tangible asset for the purposes of buying and selling.

I thought about trying to define capital as something that others would
value, but I had friends who owned a house in Texas during the land-crash.

(Basically the prices for houses/land went down so fast that so many people
had mortgages for far more than the house/land could be sold for. This
was coupled with a lack of jobs -- or perhaps caused by -- in the area.
It was *very* difficult to find a buyer at a price that made it worth
selling.)
--
D. Jay Newman           !
jay@sprucegrove.com     ! Xander: Giles, don't make cave-slayer unhappy.
http://enerd.ws/robots/ !

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