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Public capital is the aggregate body of government-owned assets that are used as a means for productivity.[1] Such assets span a wide range including: large components such as highways, airports, roads, transit systems, and railways; local, municipal components such as public education, public hospitals, police and fire protection, prisons, and courts; and critical components including water and sewer systems, public electric and gas utilities, and telecommunications.[2] Often, public capital is defined as government outlay, in terms of money, and as physical stock, in terms of infrastructure.