We are now living in the Information Age, where information-handling activities, taken, together, are the dominant claim on resources. The infrastructure needed to make this socio-economic system work is much more than the phones, switches, cables and satellites of the telecommunications engineers and the telecommunications equipment industry. The other complementary resources are a mix of people with skills, organizational capital, markets, a legal framework, regulatory institutions, and, especially, information stocks. Our concept of capital has to take in this mixed bag of resources.