The Contribution of Capital to Economic Growth

John C. Carrington and George T. Edwards

Chapter 3 in Financing Industrial Investment, 1979, pp 39-87 from Palgrave Macmillan

Abstract: Abstract The role of capital formation in assisting economic development is so much a part of the natural background to the modern economy, that it seems quite possible to under-rate its relative importance. One author, in a basic textbook on economics, reminds us that: … the Industrial Revolution was a change in industrial method, from hand-work to work done by machines driven by power, and in industrial organisation, from work at home to work in factories1.

Keywords: Capital Stock; Capital Consumption; Capital Formation; Capital Asset; Income Share (search for similar items in EconPapers)
Date: 1979
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-04021-6_3

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DOI: 10.1007/978-1-349-04021-6_3

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