i was going to reply land could be 'fixed capital' but doing some quick wiki shows as you say, land itself may not constitute as "capital" [0]... interesting
Land itself is not included in the statistical concept of fixed capital, even though it is a fixed asset. The main reason is that land is not regarded as a product (a reproducible good). But the value of land improvements is included in the statistical concept of fixed capital, is regarded as the creation of value-added through production.
Depending on your analysis, it can sometimes make sense to include land under fixed assets. Eg when you are running a company your accounting can perhaps treat durable assets and land the same?
If you are looking at whole economies, it's often useful to treat land separately. Even if that's not always done.
But I'm some kind of Georgist at heart, as you might be able to guess.
