What distinguishes feudal lords from capitalists is that whereas the former consume all the surplus they extract, the latter reinvest at least some of the surplus.
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1) I often disagree with Nordhouse. 2) this paper is very outdated and uses a data source that doesn't cover the mid to late 2000s 3) the problem is not the consumption but investment share
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I should say for two the new state of the art is both the labor and capital share are down relative to the rent share.
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