Of course, the current thinking is that it is human capital that is responsible for most of the productivity. Has anybody made a recent estimate of the aggregate human capital?
On Wed, Aug 04, 2004 at 12:06:08PM -0400, Doug Henwood wrote: > > Another approach. According to the BEA, the value of fixed > reproducible tangible wealth (including consumer durables) in the > U.S. was $32.8 trillion in 2002. (Note that the rate of return on > those assets implied by GDP is a lot higher than Julio's estimate - > around 30%.) That year, according to World Bank stats, the U.S. had > 32% of world GDP. So, scaling up based on that income share, we can > estimate that the global capital stock is worth $102.1 trillion - or > roughly $16,000 per capita. > > Doug -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
