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THE CONCEPT AND THE ROLE OF CAPITAL
A K CAIRNCROSS
SHANTI S TANGRI
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achieve agricultural Alliance for Progress allocation plan argument aspect assume balanced growth balanced-investment package big push Cairncross capacity capita income capital accumulation capital formation capital-output ratio cent consumers consumption costs decision environment demand depends determined developed countries domestic economic and social economic development economic growth economists effects entrepreneurs expansion exports external economies factors factors of production force given Harvey Leibenstein human capital import substitutes important improvement increase indirect consequences industries internal investment plan investment policy John Kenneth Galbraith labor land Latin American Leibenstein manpower maximize ment Myint national income national output nomic output ratio output stream period political population growth possible problem projects rate of growth rate of investment rate of saving result role Rostow savings and investment sector social infrastructure social overhead capital stages take-off Tangri technical progress techniques theory tion types underdeveloped countries