Capital and its Complements: A Summary

资本及其互补品：摘要

作者: Aaron Swartz | 来源: aaronsw.com | 时间: 2008-06-30

The following is a non-technical summary of Brad DeLong’s May 2008 paper Capital and Its Complements.

以下是布拉德·德隆(Brad DeLong)2008年5月发表的论文《资本及其互补品》(Capital and Its Complements)的非技术性摘要。

Adam Smith explained that in all countries with “security of property and tolerable administration of justice” citizens would spend all their money (capital), either on consumption or investment, causing the country’s economy to grow. After some contention, later economic studies tended to bare this out: a shortage of capital wasn’t always the bottleneck, but when it was, removing it could lead to extraordinarily rapid growth.

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