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 un- 
dulations 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 con- 
siderable 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 rep- 
resentation. As a matter of fact, the method of capitaliz- 
ing human beings will vary with the special purpose in 
view. Our present purpose is chiefly concerned with in- 
teractions 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 capi- 
tal of a community consisting of labor power, land, inter- 
mediate 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