infrastructure(redirected from Social Overhead Capital)
Also found in: Dictionary, Thesaurus, Medical, Acronyms, Encyclopedia.
infrastructurethe investment by central government and local authorities in railways, roads, airports, shipping ports, schools, universities, hospitals, etc.
Infrastructure can play an important facilitating role in improving a country's industrial performance by providing, for example, a good communications network, and a stock of well-educated and trained workers, scientists and technologists.
social overhead capitala nation's roads, railways, housing, hospitals, schools, water supply, etc., accumulated from INVESTMENT, usually by the government or local authorities in previous periods. It also includes intangible items such as an educated/trained labour force created by investment in HUMAN CAPITAL.
Infrastructure plays an important role in improving a country's general living standards and in contributing to a higher rate of ECONOMIC GROWTH.
The basic amenities and services that must be in place for a particular activity or pursuit.The infrastructure in a subdivision would consist of roads;storm sewers;and mechanisms for the transmission of water,waste products,electricity,telecommunications,and possibly natural gas. References to the infrastructure of a community might also include basic services, such as fire and police protection,schools,and libraries.