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This second volume of "Productivity" focuses on comparisons among industrialized countries. Although Germany and Japan are often portrayed as economic adversaries of the US, post-war experiences in these countries support policies that give priority to stimulating and rewarding capital formation.
Volume one of a study of the cost of capital for policymakers who aim to make the allocation of capital in a market economy more efficient. This work presents studies of the cost of capital as a determinant of investment expenditures.
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