The figure is a line chart titled “Intangible Capital Share of Total Capital.” The graph plots the following intangible capital share series — BEA; Compustat (intangible assets include R&D); and Compustat (intangible assets include R&D and SG&A). The y-axis ranges from zero to 70 percent, and the x-axis spans the years 1975 to 2019. The BEA series goes from 7.6 percent in 1975 to 17.8 percent in 2019. Compustat series that includes R&D goes from 10.3 percent in 1975 to 28.3 percent in 2019. The Compustat series that includes R&D and SG&A goes from 37.9 percent in 1975 to 68.8 percent in 2019. Source: Crouzet N, Eberly J. NBER Working Paper 25869