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 |
“Prime Minister, I see you've already mastered the essential craft of the European politician, namely, the ability to say one thing in this chamber and a very different thing to your home electorate.”
“I think it would be bizarre to pick somebody to speak at the convention based on their sexual preference, because once you go down that road, why don't you pick a transvestite?”