If you put a ten dollar bill under the rug instead of spending it, that is capital formation. It represents ten dollars' worth of something that might have been immediately consumed, but wasn't.
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Nationality: American Type: Journalist Born: 1878 Death: 1954 |
“When France resolved, along with England, to lend assistance in the legitimate defense of Poland, the realization burst on us that a conflict of awesome proportions was inevitable.”
“Men are apt to mistake the strength of their feeling for the strength of their argument. The heated mind resents the chill touch and relentless scrutiny of logic.”