Heterodox
In previous articles (example), I have been arguing that investment is the major driver of the private sector cycles. (I am using the national accounting definition of investment, and not the act of purchasing financial securities.) We can now turn to the data, and the important question: how are we doing right now?… There are a number of categories of expenditures that are all lumped under the notion of investment. The major categories of interest are: Investment by government (which is...
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