2 ms·
You've misunderstood the growth term. It's the growth of the entire economy, not just of wages. If average growth is X and capital grows faster than X (on avera
by xapata 7y ago
You've misunderstood the growth term. It's the growth of the entire economy, not just of wages. If average growth is X and capital grows faster than X (on average), then we can deduce that non-capital growth is slower than X (on average).