316 NATURE OF CAPITAL AND INCOME [Cmar. XVII

therefore self-canceling and are not transmitted to the
outer fringe. The total income, therefore, from the entire
group of capital, is represented simply by the vertical undulations
 in the top curve.
By means of this diagram we may see clearly the various
meanings of “individual income.” The business man
usually applies the term to the teeth of the investment
curve; the economist to the teeth next above in the money
curve, or the teeth above that in the curve representing
enjoyable capital. Practically, it does not greatly matter
which of the three we select, since usually, for any considerable
 period of time, all will closely correspond. This
must needs be so, unless the stock of money or enjoyable
articles is appreciably increasing or decreasing. These
exceptional cases have already been discussed in detail,
and there is no difficulty in representing them by diagrams.

§7
The other application of our diagrammatic summation is
to present a fairly complete picture of the total value of
capital-wealth and the total value of income of an entire
society. In the capital of a community it is not usual to
include human beings, and for that reason it is scarcely
worth our while to discuss the theoretical questions as to
the manner in which they might be included in such a representation.
 As a matter of fact, the method of capitalizing
 human beings will vary with the special purpose in
view. Our present purpose is chiefly concerned with interactions
 between man and other capital, and we need
practically only to capitalize the money-earning power of
the individual. This part of the capital-value of a man
we may call “labor power.” We then have the total capital
 of a community consisting of labor power, land, intermediate
 capital, and enjoyable capital, as in Figure 28.
For convenience, and to avoid needless complications, we
assume that labor power interacts only with land, land