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Bye and Hewett treated the “capital-output ratio” as a measure of the degree of roundaboutness. The higher the ratio, the more capitalistic is the economy. They estimated the U.S. capital-output ratio to be 3.4 in 1955, reflecting a “high
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“George Bernard Shaw’s Caesar and Cleopatra: “Pardon him, Theodotus: he is a barbarian, and thinks that the customs of his tribe and island are the laws of nature.”
― The Man Who Sold the Moon and Orphans of the Sky
― The Man Who Sold the Moon and Orphans of the Sky
Philip’s 2024 Year in Books
Take a look at Philip’s Year in Books, including some fun facts about their reading.
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Polls voted on by Philip
Lists liked by Philip
