================= HES POSTING ===================== There is an extensive discussion of this topic in Bohm-Bawerk's "Capital and Interest" (in volume 2, pages 16 to 30) in which he quotes Fisher (on page 29): "Irving Fisher .... says [capital] includes all the wealth in existence, without exception of any kind. .... and .. not the stock of goods comprising the wealth, but the value of those goods. " There is a short excerpt from this section on my home page at: http://www.runge.com/capital/ under the heading: "The Controversy over the Concept of Capital" which also summarizes the definitions and ideas from Menger, Kleinwachter, Walras, Kuhnast, Clark, and Marshall. Ian Runge [log in to unmask] ============ FOOTER TO HES POSTING ============ For information, send the message "info HES" to [log in to unmask]