Beginning in the mid-1990s, the Canadian welfare state's devolutionary transformation ushered in an era which potentially increased the importance of social capital and human capital as mechanisms for promoting socio-economic advancement. In this study, the authors analyze data from Canada's General Social Survey to assess how social capital and human capital influence the reported incomes of the Canadian population. The primary findings were that both social and human capital influenced income and that human capital had a larger effect on economic mobility than did social capital. The implications the study's findings have for policy and programmatic interventions within the 21st century knowledge-based economy are discussed, and future studies which can further understanding in the area of social and human capital are also proposed.