Capital Durability and the Golden Rule of Capital Accumulation: A Note

The theorem of proportionality in contemporary capital theory: An assessment of its conceptual foundations

“…Economic theorists do not hold the same views regarding the proper approach to articulating scientific propositions and employing them to explain the structure of 17 Also, the results obtained by Ioyha (1971) in the context of the one-sector growth model, where the useful life of capital was ingeniously linked to maintenance, were ignored. But, at least in this case, one might invoke the reason that this model was expressed in net saving, net investment, and net capital stock, i.e., a modeling approach that had gone out of fashion.…”