Investment in physical and human capital promotes growth from "summary" of Principles of Macroeconomics by N. Gregory Mankiw
Investment in physical and human capital is essential for promoting economic growth. Physical capital refers to the tools, machines, and structures that businesses use to produce goods and services. By investing in physical capital, firms can increase their productivity and output. This leads to higher economic growth rates as more goods and services are produced and consumed in the economy.
Additionally, investment in human capital, which includes education, training, and healthcare, is also crucial for promoting growth. When individuals are educated and healthy, they are more productive workers. This increased productivity leads to higher levels of output and economic growth. Furthermore, a skilled and healthy workforce attracts businesses to invest in the economy, further boostin...
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