II.

Components of Wealth

In classifying wealth it is useful to distinguish between producers' goods and consumers' goods and, in each of these categories, between durable and nondurable goods. Among producers' durable goods are plants, machinery, and other fixed installations. Inventories of goods to be sold or in process of production make up producers' nondurable goods. Together, producers' durable and nondurable goods constitute capital, as generally understood. Food, clothing, and similar items of consumption are consumer nondurables; consumer durables are homes, furniture, and the like. Services are not included in estimated wealth as they cannot be stored. Services do, however, have economic value, whether as services to producers (for example, business accounting and legal services) or as services to consumers (for example, hairdressing, education, and health-related services).