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

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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.

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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.

Also Known As

Alternative Names: Paul Alexander Baran Paul Baran
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The alarm must be sounded because it is the economic and social system of capitalism and imperialism that prevents the urgently needed full mobilization of the potential economic surplus and the attainment of rates of economic advancement that can be secured with its help.

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The principal impact of foreign enterprise on the development of the underdeveloped countries lies in hardening and strengthening the sway of merchant capitalism, in slowing down and indeed preventing its transformation into industrial capitalism.

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