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accumulation
(redirected from Capital accumulation)

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Throughout, he connects the development of individualist ideas, including those of Thomas Hobbes, John Locke, Thomas Malthus, Herbert Spencer, Friedrich Hayek, and Milton Friedman, with the needs and consequences of capital accumulation and explores the complex relationship between theories, moral precepts, arguments, and policy agendas.
Consequently, we extend the benchmark model to include spillovers in the human capital accumulation process.
Capital accumulation is required for industrialization and, in his view, is determined by how the economic surplus is generated, appropriated and used, which in turn is affected by international trade specialization.
 
 
 
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