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| Date: | Fri Mar 31 17:19:11 2006 |
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Veblen, T. (1908), "On the nature of capital II: Investment, intangible assets, and the
pecuniary magnate," Quarterly Journal of Economics (1) (Nov.): 104-136.
"Successful strategies of [limiting supply and raising prices to 'what the traffic will
bear'] may, by force of custom, legislation, or the 'freezing-out' of rival concerns, pass
into settled conditions of differential advantage for the given business concern, which so
may be capitalized as an item of intangible assets and take their place in the business
community as articles of invested wealth" (Veblen 1908, 107).
Avi Cohen
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