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It has been estimated that even in the absence of net investment, the mere substitution of modern machinery for worn-out equipment in the United States would cause an annual productivity increase of approximately 1.5 percent.

— Paul A. Baran The Political Economy Of Growth (1957)

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More quotes by Paul A. Baran

As Hegel well knew, the ascent of reason has never followed a straight line.

The Political Economy Of Growth (1957)

In fact, all the additional knowledge gained by an irrationally constituted society may but enlarge and enhance the powers of death and destruction.

The Political Economy Of Growth (1957)

They lived in abysmal misery, yet they had no prospect of a better tomorrow. They existed under capitalism, yet there was no accumulation of capital.

The Political Economy Of Growth (1957)

If society has a technical need, that helps science forward more than ten universities.

The Political Economy Of Growth (1957)

Indeed, I find it illuminating to consider to what extent our "classical conditions" for economic growth are satisfied in the current, monopolistic phase of capitalism.

The Political Economy Of Growth (1957)

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