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: comparison to Capital, which checks its rate of growth with interest.

Folksonomies: knowledge growth

/finance/investing/venture capital (0.488548)
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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
Books, Brochures, and Chapters>Book:  Babbage , Charles (1851), The Exposition of 1851, Retrieved on 2011-12-13
  • Source Material []
  • Folksonomies: great exhibition


    04 JAN 2013

     Insight is the Greatest Virtue

    Knowledge is the most important moral.
    Folksonomies: virtue ethics
    Folksonomies: virtue ethics