“The advance in knowledge and useful new factors based on such knowledge are all too frequently put aside as if they were not produced means of production but instead simply happened to occur over time. This view is as a rule implicit in the notion of technological change.”

—  Theodore Schultz

Source: "Transforming traditional agriculture," 1964, p. 136

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Theodore Schultz photo
Theodore Schultz 15
American economist 1902–1998

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