TL;DR
The paper investigates the sources of capital growth, finding that changes in net saving or consumption do not influence capital acceleration, challenging traditional assumptions and discussing implications for economics and policy.
Contribution
It presents an analysis showing capital growth and acceleration occur independently of net saving or consumption restraint, offering new insights into economic dynamics.
Findings
Net saving and consumption do not affect capital acceleration.
Capital growth can occur without changes in saving or consumption.
Implications for economic teaching and policy are discussed.
Abstract
Data from national accounts show no effect of change in net saving or consumption, in ratio to market-value capital, on change in growth rate of market-value capital (capital acceleration). Thus it appears that capital growth and acceleration arrive without help from net saving or consumption restraint. We explore ways in which this is possible, and discuss implications for economic teaching and public policy
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