realkapital

Realkapital, in economic terms, refers to the physical assets that a economy or a business uses in the production of goods and services. It encompasses tangible instruments of production such as machinery, buildings and facilities, infrastructure, equipment, vehicles, and tools. In some contexts, it also includes land improvements and other durable assets that contribute to productive capacity. Realkapital is distinct from financial capital (money, securities) and from human capital (the skills and knowledge of people).

The assets that constitute Realkapital are typically durable and possess a useful life beyond a single production cycle. They can be broadly categorized into fixed assets (Anlagevermögen), like factories, offices, and major industrial equipment, and other tangible productive inputs. In many national accounts and business studies, Realkapital is treated together with the stock of durable physical assets that a producer relies on over time, rather than current inputs or inventories.

Realkapital changes over time through investment and depreciation. Investment adds to the capital stock, while wear, obsolescence, and usage reduce it through depreciation. National accounts measure these dynamics with concepts such as gross fixed capital formation (gross investment in fixed assets) and net capital stock (the value of the stock after depreciation). Tracking Realkapital helps explain long-run growth, productivity, and the capacity of an economy to produce goods and services.

In practice, Realkapital is a core consideration in economics and business planning, affecting decisions on maintenance, upgrades, financing, and asset management. Terminology varies by country and discipline, with terms like Sachkapital or Anlagekapital used in some German-language contexts.