Knowledge Produces More Rapid Rate of Progress
Remember that accumulated knowledge, like accumulated capital, increases at compound interest: but it differs from the accumulation of capital in this; that the increase of knowledge produces a more rapid rate of progress, whilst the accumulation of capital leads to a lower rate of interest. Capital thus checks its own accumulation: knowledge thus accelerates its own advance. Each generation, therefore, to deserve comparison with its predecessor, is bound to add much more largely to the common stock than that which it immediately succeeds.
Notes:
...in comparison to Capital, which checks its rate of growth with interest.
Folksonomies: knowledge growth
Taxonomies:
/finance/investing/venture capital (0.488548)
/finance/bank/checks (0.319027)
/business and industrial/company/earnings (0.236732)
Keywords:
rapid rate (0.941676 (positive:0.357378)), capital (0.740358 (negative:-0.310747)), lower rate (0.707592 (negative:-0.505120)), accumulation (0.669794 (negative:-0.310747)), knowledge (0.662880 (positive:0.357378)), common stock (0.661278 (positive:0.482498)), progress (0.527669 (positive:0.357378)), comparison (0.524262 (neutral:0.000000)), increases (0.418675 (negative:-0.296897)), predecessor (0.414328 (neutral:0.000000)), growth (0.407925 (neutral:0.000000)), increase (0.405000 (positive:0.201156)), advance (0.398487 (neutral:0.000000))
Entities:
common stock:FieldTerminology (0.844504 (positive:0.482498))
Concepts:
Capital accumulation (0.934441): dbpedia | freebase
Compound interest (0.927125): dbpedia | freebase
Nominal interest rate (0.871524): dbpedia | freebase | yago
Interest (0.866431): dbpedia | freebase | opencyc
The Exposition of 1851
