“One type of growth, what we’re seeing in China now and what we saw in Japan post war. And what we saw in Europe and the United States post war, is growth that occurs through capital accumulation. Another type of growth, is what we’re, which is what we see in the United States and Japan and Europe now, but not in China, occurs from technological advances, not from buildup of capital. And as you advance technology and you increase that A term, then it makes sense to. Buy more capital, but different types of capital and that’s what drives growth. ” – Transcript from Scott Page Coursera
Source:
Scott Page Model Thinking MOOC Course
