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Physical capital

Physical capital (economics) refers to infrastructural capital and natural capital in some ambiguous combination. As these are combined in process-specific and firm-specific ways that neoclassical macro-economics does not differentiate at its level of analysis, it is common to refer only to physical vs. human capital and seek so-called "balanced growth" that develops both in tandem.

Such analyses, however, fail to make distinctions considered critical by many modern economists:

Accordingly the designation as physical has come into some recent dispute.