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 |
“As our expedition to New York seems likely to be attended with a very fatal Consequence, and ourselves haply censured for undertaking it without assurance of success.”
“The city and province were given up to anarchy; the coloured people, elated with victory, proclaimed the slaughter of all whites, except the English, French, and American residents.”