----------------- HES POSTING ----------------- 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 ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]