Versus "human", "firm-specific", "individual Social"
While conflated in many analyses with human capital, the latter term includes social capital (human relationships) and instructional capital (abstract texts and training materials and so on) that are not tied to any one person, do not die with them or leave employment with them, and therefore cannot be equated with talent alone. In intangibles measurement, value creation and value reporting metrics require all assets with such different characteristics to be categorized as different capital assets, so the more exact reference to the individual person is preferred.
Fusions of terminology are common. Sociological analysts refer to "individual-level elements of social capital" or "an individual's social capital" or just "individual social capital" while economic analysts often use the phrase firm-specific human capital. In either case the clearly includes individual capital but also some "activity-", "community-" or "firm-specific" social capital (community trust) and instructional capital (shareable knowledge or skills). This is easy to measure: its yield is your salary in your current job.
To the degree this is consistent if you take other work nearby, this opens the questions of what is not "firm-specific" and whether a nation is just a bigger "firm": Some analyses see political capital, or just "influence" or "trust of professionals" as a full style of capital of its own. Some ethicists, most clearly Jane Jacobs, see this as simple corruption. Nonetheless, corruption clearly has a cash value, involves some creativity to arrange, and is a decision factor. It is a skill like any other.
Read more about this topic: Individual Capital
Famous quotes containing the words individual and/or social:
“I recognize in [my readers] a specific form and individual property, which our predecessors called Pantagruelism, by means of which they never take anything the wrong way that they know to stem from good, honest and loyal hearts.”
—François Rabelais (1494–1553)
“Although adults have a role to play in teaching social skills to children, it is often best that they play it unobtrusively. In particular, adults must guard against embarrassing unskilled children by correcting them too publicly and against labeling children as shy in ways that may lead the children to see themselves in just that way.”
—Zick Rubin (20th century)