The word capital is said to have first appeared in Northern Italy in the 13th – Century. It is believed that it was based on the Latin word, Caput, meaning “head.” Not long after its invention, capital began to be used interchangeably with such other words as asset, fund, wealth, property, etc. Today, capital has become synonymous with these words. Hence, this article can be re-phrased thus: Your Mind Is Your Greatest Asset, or Your Mind Is Your Greatest Property.
From the economic point of view, capital is of two (2) types, namely; financial capital – money, and physical capital – buildings, equipment, property, etc (all of which financial capital can acquire).e two (2) types of capital are inter-convertible. By definition, economists regard capital as asset, wealth…or any (tangible) resource that has (economic) value. Capital is investible.
Capital together with land and labour make the up the historical trinity known as factors of production. But just as there are three (3) historical factors of production, there are also (economically speaking), three (3) capital assets that could be used for production activities, namely; land, money and equipment/machinery. From the foregoing, it is clear that capital is something physical or tangible – something that can be seen, felt, or touched. Economically speaking, capital isn’t anything non-physical, or non-tangible. But wait a minute! Is this an absolute truth?
The Non-Tangible Capital
Let’s keep land, a free gift of nature aside. This leaves us with capital and labour as the remaining factors of production; and money and equipment as the remaining capital assets. But money and equipment do not come from the moon. They were/are created by man. And the (primary) thing man possesses that made/makes it possible for him to create money and equipment is his mind (brain), which is his thinking faculty!
Because man thinks creatively…and productively, he created/creates money and equipment. Hence, money and equipment which are physical products and which in economic sense are regarded as the first essential tools for the creation of further products, were first products of mental activity. If man does not engage his mind in creative thoughts, money and equipment would not be created.
Since money and equipment are a capital and both are created by the mind, isn’t the mind the greatest capital?
Now, let’s talk about land. Land itself becomes a useful factor of production only when it is put into productive use. The building on land which economists regard as an asset was erected by man who employed his mind in productive thoughts. Without the employment of the mind of man in creative thought, land will remain unused, uncultivated, unproductive…a useless factor of production!
And finally let’s talk about labour – human resources of economic value – men and women who work on land (those who cultivate it and/or erect buildings/structures on it); and/or use equipment/machinery for production purposes. In addition to the fact that man created equipment, production takes place only because man employs his tool of thought (his mind) in creating the activities on which equipment are used for production purposes, just as he employs his mind in actual use of equipment.
You are regarded as labour because you are a human capital. And the thing you possess that makes you capital is your mind, for with your mind you bring creativity, innovation, ingenuity…and uniqueness to production activities which eventually results in products, goods and services.
Given the above facts, the mind is the creator of all capital. With the tool of the mind, nothing would have been made. The mind is therefore man’s greatest capital. It is the capital that creates other capital. It is the non-tangible capital that creates the tangible capital used in production. From intangible mental activities emanate tangible physical products. Indeed, from the mind begins the outflow of the process that leads to the creation of money and production of equipment any other physical resource of economic value.
Has it never occurred to you that whatever thing is called capital, asset or property, etc, was created by people who tasked their minds in thought? Just pause for thought and think of anything that exists today and you will agree with me that it is the capital of the mind. Think also of any achiever/success and you will discover that such a person is one who employed his or her mind in dreaming of that someone he/she has become. Along the path to that dream, such a person continually employed his/her mind in thinking out means and ways to make his/her dream come true.
What in the world is not made by thoughts? With the mind employed in thoughts, man engineers his members and the senses to act out that which he thinks and by so doing, creates what he thinks, how he wills, where he wills. With the mind, man creates money and machines. With the mind and senses unified with the body and spirit and all attuned to the universal flow of knowledge, wisdom and understanding, man brings into being that which yet is not.
How else can we observe birds and build airplanes? Or observe nature and create songs and works of art? Or face problems and develop aids to solve them? It is in the mind that that which now is a seen, felt…or touched by the senses was first created – reality is first created in the mind before it is finally created in the physical.
Land is not the factor on which to create your desired reality; money is not the most essential capital with which to create what you desire. You have the greatest capital of your mind to create or make money, all that money can buy and most importantly, all that money cannot buy. Your mind is therefore your central bank of capital, tangible and intangible assets; and you are its governor with absolute powers to do with it, what you will.
With the tool of your mind, you create whatever you desire; with the tool of your mind, you create your desired future by first dreaming of that future; with the tool of your mind, you generate the earth-quaking ideas which are a capital with which you would make your dream come true. Indeed, your mind is your greatest capital asset, your greatest property.
How much of your mind do you use? How much of creative, productive and positive thinking do you do? Use your mind creatively, positively and productively to create the future and life you desire. Or lose it to inaction.