A Rehabilitation of Say’s Law (W. H. Hutt)
- Highlight Loc. 347-50 | Added on Thursday, January 26, 2012, 02:11 PM
Investment. The entrepreneurial process of choosing the prospectively most profitable forms in which services are embodied into assets for replacement or accumulation, “human capital” (the composition of the stock of muscles and skills) included. That is, in this essay, “investment” is not conceived of as a magnitude. The relevant magnitudes are (i) “savings,” or “net accumulation,” and (ii) “dissavings” or “decumulation”.
