Capital and Labor: The Legos Of Our Economy

By Jennifer Moreale
The prosperity of a country is tied to the effective usage of its available resources, i.e. capital and labor. The amount of capital and labor in any society is limited, therefore efficient resource allocation is essential for economic growth. Capital and labor are not homogeneous resources. Certain types of capital workbest with a certain types...

TAGS: Capital, Labor, NBR, Resource Allocation, Steven Horwitz