ABSTRACT
Schultz (1961) and Becker (1964) were but two of the economists who chose to expand the concept of capital beyond its physical sense into the human dimension. If tools that perform work more efficiently will generate physical capital, then anyone wielding skills and education will generate human capital. Reasoning further along this line, we may hold that some kind of relations between people can also facilitate production. When social relationships change in a way that makes productive activity more efficient, then social capital has been created. This unfolds into a full theory of capital-physical, human and social-that does not have to be confined to purely economic pursuits.
