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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 Stat… - Paul A. Baran
" "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.
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About Paul A. Baran
Paul Alexander Baran (25 August 1909, Mykolaiv, , today Ukraine – 26 March 1964, Palo Alto, USA) was an American economist known for his Marxist views. In 1951 Baran was promoted to full professor at Stanford University and Baran was the only tenured in the United States until his death in 1964.
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Paul Alexander Baran
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Paul Baran
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