Economic Growth: Economic Growth, Sweatshop, Growth Accounting, Capital Accumulation, Productivity, Industrialisation, Steady State Economy

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General Books, 2010 - 206 pages
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 73. Chapters: Sweatshop, Growth accounting, Capital accumulation, Productivity improving technologies, Industrialisation, Steady state economy, Resource curse, Productivity paradox, Exogenous growth model, Rostovian take-off model, Investment-specific technological progress, Golden Rule savings rate, Useful work growth theory, Knowledge spillover, Index, Harrod-Domar model, Prosperity, Mahalanobis model, The Improving State of the World, Endogenous growth theory, Nuclear peace, Goodwin model, Export-led growth, Orthodox Development, Turnpike theory, Social savings, ICstat, Community economic development, Learning-by-doing, General purpose technology, Kaldor's growth laws, Zero growth, The World Economy: Historical Statistics, Kaldor's facts, Spillover effect, Technical progress function, AK model, Inada conditions, Clean growth. Excerpt: The accumulation of capital refers to the gathering or amassment of objects of value; the increase in wealth through concentration; or the creation of wealth. Capital is money or a financial asset invested for the purpose of making more money (whether in the form of profit, rent, interest, royalties, capital gain or some other kind of return). This activity forms the basis of the economic system of capitalism, where economic activity is structured around the accumulation of capital (investment in production in order to realize a financial profit). The definition of capital accumulation is subject to controversy and ambiguities, because it could refer to a net addition to existing wealth, or to a redistribution of wealth. If more wealth is produced than there was before, a society becomes richer; the total stock of wealth increases. But if some accumulate capital only at the expense of others, wealth is merely shifted from A to B. In principle, it is possible that a few people or organisations acc...

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