Purpose - The purpose of this paper is to analyse the societal supply of intellectual capital (IC). Design/methodology/approach - Conceptual analysis supported by statistical data. Findings - The supply of IC is closely related to the existence of Welfare States (WS). Research limitations/implications - A wider and deeper study should complement this one. Practical implications - Politicians, Non-Governmental Organizations and private organizations should understand that they can help the creation of the IC level they need in their countries and organizations, by supporting the creation of WS and social policies. Originality/value - Social policies are neglected in the IC discussions, and this paper puts them at the core of the IC problematic, with wide and deep practical implications.