Retrogressing economy
From Mises Wiki, the global repository of classical-liberal thought
Retrogressing economy is an economy in which the per capita quota of invested capital is decreasing. This decrease in, or consumption of, capital goods results in a decrease in per capita real income. In a retrogressing economy total entrepreneurial losses will exceed total entrepreneurial profits. Since incomes and capital accumulation are incapable of measurement, the existence of a retrogressing economy can only be grasped by resorting to historical understanding.[1]
See also: Progressing economy
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-21.
