Fixed Capital Stock

Fixed Capital Stock

 

within the national economy, the aggregate of material assets produced by social labor and operating for an extended period of time. Fixed capital stock includes buildings, installations, transmission devices, machinery, equipment, means of transport, tools, production and sales implements, draft animals, and commercial livestock. Fixed capital that functions in the sphere of material production is fixed production capital; fixed capital that does not act directly in the production process constitutes fixed nonproduction capital.

The fixed capital stock of the national economy is the most important and fastest growing component of national wealth. In the USSR as of Jan. 1, 1976, fixed capital stock measured by comparative prices equaled 1.258 trillion rubles; 806 billion rubles of this sum, or 64.1 percent, represented production capital and 452 billion, or 35.9 percent, nonproduction capital. The growth and development of the fixed capital stock are key conditions for creating the material and technical base of a communist society and for steadily raising the well-being of the people. The fixed capital stock is reflected in monetary terms as the balance of fixed capital, usually referred to as total fixed assets.


Fixed Capital Stock

 

in a socialist economy, the aggregate of the fixed production assets of enterprises and associations and of the economy’s nonproduction fixed assets. As of Jan. 1, 1976, the fixed capital stock (including livestock) of the USSR amounted to 1,258 billion rubles, of which 806 billion rubles represented fixed production assets, and 452 billion rubles nonproduction fixed assets. The distribution of the USSR fixed capital stock as of Jan. 1, 1976, is given in Table 1.

The development of production under socialism and increases in economic efficiency are to a considerable degree associated with the more rational use of fixed capital stock as the material and technical base of all sectors of the national economy. Improvements in the use of capital stock are reflected in capital productivity. Fixed capital stock includes the fixed assets of state, cooperative, and public enterprises and organizations and

Table 1. Distribution of USSR fixed capital stock (in percent, Jan. 1, 1976)
Fixed production assets 
Industry ...............30.6
Agriculture...............13.4
Transport...............12.6
Communications...............1.0
Construction...............2.8
Commerce, the food service industry, and other productive sectors...............3.7
Subtotal...............64.1
Nonproduction fixed assets 
Housing...............21.3
Municipal and everyday services...............4.4
Public health, education, science, the arts, and other nonproductive sectors...............10.2
Subtotal...............35.9
Total...............100.0

kolkhozes; it also includes houses, farm buildings, cultivated perennial plants, workstock, and livestock.

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