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"Fisher (1904, p. 387) defined capital as "a stock (of wealth or property, or the value of either) existing at an instant of time." Fisher's conception of capital is inextricably linked to time. The value of a capital asset is derived from its potential to provide a flow of benefits through the...
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details, examples, and theory. Analytical, empirical, or institutional factors can be given different emphases at different …
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