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A short-lived capital stock will manifest in accelerated depreciation and a fragile capital structure will incur an undue interest charge.

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Capital is whatever can be transformed or used to produce goods that satisfy human wants. It can be stored, deployed, and accumulated, because it is productive.

All of these businesses operated below the radar screen of megacapitalists like the Morgans. Their primary capital expenses were for real estate and inventory, which could be financed by traditional mortgages and bank working capital lines. But that was true only because they could “externalize” the cost of all the shipping infrastructure that

Cities whose economic-development strategy is a corporate-capture strategy are typically those whose economic development director and planning director don’t talk to each other. The smart cities, like Lowell, hire a director of planning and development, who is first charged with creating a city where people want to be. Rather than trying to land