Paul A. Baran Quote

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.

Chapter Four, Standstill and Movement Under Monopoly Capitalism, II, p. 88 - The Political Economy Of Growth (1957)

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...

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...

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...

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...