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individual capital

(this is a refer link to define an important policy term )

The term individual capital describes the body as a creative actor and as a capital asset. It is the building block of the so-called creative class? supposedly measured by the Bohemian Index? and used in urban economics?.

It is usually thought of as one of several economic intangibles - though this terminology is somewhat bizarre, since the human individual is the perceiver and actor in any human system, and is only "intangible" in some ideologies.

not the same as "human capital"


Individual capital is not a synonoym for human capital - a term defined in neoclassical economics with a meaning that implies it is functionally equivalent to financial capital ). It is quite important to keep the social or instructional aspects of human capital separate from those tied to a given individual:

What dies with the body, is individual to one person and not generically "human". It is not the social capital since that may be inherited at least in part by others. It is not the instructional capital which can be documented and transferred to others, though the teaching skill with which this is done may be individual.

Using this term avoids the confusion and ideology inherent in the term human capital - which is defined in any case in neoclassical economics in a way which assumes that the price of life? is an actual value judgement - a grave error.

not "social" or "instructional"


The individuals' unique talents and creative powers are not reducible, under any conceivable accounting reform, to the social capital or "connections" they have, nor to the imitative works or instructional capital that they create. Even a great historian or encyclopedist or teacher who spends their entire life gathering facts and relating them and helping others to understand things in the same way as themselves will have a unique individual talent for doing so.

key to value creation


See value creation and creative class? for more on this.


Creative works are almost always protected by copyright? not patent (which is instructional capital) nor trademark (which is social capital ).

operational definition


hubley.org has a one-page operational definition(external link) which defines inputs, cofactors and outputs of individual capital in relation to the other five styles of capital(external link).

if you care


_See, and edit to include the above, the GFDL article onindividual capital(external link)_ - check older versions as well to find useful material.



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