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 |
“I never belonged anywhere. I just felt like a creature from another planet.”
“Britain has taken itself out as a major player in the international system, at least for a while, with the kind of cuts that they've made in their national security budget.”