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Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
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22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
09 August 2017 | Pago Pago, American Samoa

The Confusing Nature of Capital

27 June 2017 | Pago Pago, American Samoa
Kimball Corson
Capital is first off not labor. It is also not the materials used in manufacture. It is the durable goods used in manufacture. The physical plants and equipment used to produce goods The machines to form tires. The molds to form castings. The stamping machines to stamp and shape metals.

It is also the value of that equipment, but not the value of other things or of cash per se. Cash can simply be hoarded as cash or near cash and has nothing to do with capital. These are hard concepts for most people who very much confuse things. And the problem is compounded these days because capital can be so much more in the modern age.

A patent is now a capital good. It allows its inventor the exclusive use of the invention or process. The owner (a patent may be sold, like a piece of plant and equipment) can license the non-exclusive use of the patent to others over and over again to the extent the market will bear. Unlike physical equipment, one user does not precluded another. when the patent expires, anyone may use the invention or process.

The same is true of a copywrite, trade dress protection (goes forward indefinitely), a trademark (an aid to sales), trade secrets, and other modern forms of capital. The value of these intangible rights is also capital, but again, it is not the same as just cash in hand of from stocks sold. These are modern developments in the concept of capital that are including as such in national income accounting and analysis, but most people are simply lost here and don't know what is what.

Hence this note.
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Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
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Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ