El ahorro como factor de crecimiento económico
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Abstract
This article was scanned by the Aurelio Espinosa Polit Ecuadorian Library.
The different schools of economic thought have in common the fact that they consider that capital constitutes an important element of production. One of the classical schools, for example, considered that the factors of production were: land, capital and labor. A more contemporary one states that the basic ingredients of economic development are: capital, labor, technology, managerial skills and access to international trade. Obviously, any variation in one of these variables will cause direct effects on the behavior of production, and the economic policies of different governments have been oriented to promote, to a greater or lesser extent, one of the factors of production. Some governments encouraged the intensive use of capital to the detriment of labor; others, on the other hand, stimulated the use of labor and relegated the use of capital or technology to second place.
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