Purdue econ 252 exam 70 - Study guides, Class notes & Summaries

capital accumulation - the growth of capital resources, including human capital. when a country saves more, this grows faster. aggregate investment - savings rate x GDP political creative destruction - the process in which economic growth destabilizes existing regimes and reduces the political power of rulers. creative destruction - refers to the process by which new technologies replace old ones, new businesses replace established companies, and new skills make old ones redundant. rev...