1. In everyday economic discourse, nothing is more frequently taken as an index of economic growth than the volume of capital formation. 2. The majority of investment expenditure is on fixed capital formation rather than inventories and it is to this that we now turn. 3. They were not accounted for in private consumption expenditure, general government expenditure, or domestic capital formation. 4. This obviously is not an especially efficient way to promote capital formation. 5. Their role in capital formation will be discussed below, but their role in the advancement of practical civil engineering needs to be noted. 6. Investment in coastal shipping yet again reveals how local the process of capital formation in transport was. 7. This does not mean that the pace of innovation and of capital formation in the eighteenth-century economy were negligible. 8. But how is it possible to reconcile a variable rate of capital formation with a fixed stock of capital? 9. Barriers to capital formation keep most private businesses from providing more than a handful of jobs, but there is growing pressure to change that. |