Public capital is the aggregate body of government-owned assets that are used as the means for private productivity. 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. Often, public capital is defined as government outlay, in terms of money, and as physical stock, in terms of infrastructure.