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 |
“After all, I have spent the better part of my adult life insisting that government be open... that government be accessible... and that government be held accountable to people who voted us into office.”