Social Sciences and History / Unit 14 SSH 1315 short lesson, about 20 seconds
Capital Deepening and Technology, Broadly Meant
Captions available
The idea
The aggregate production function turns human capital, physical capital and technology into GDP per capita. Capital deepening is a rise in capital per worker, physical or human. Technology, economically, is all new methods of production: major inventions, small ones, better management, better institutions.
In practice
Invention advances; innovation applies.
Where people slip
A healthy climate adds markets and supportive policy.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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