Capital Quote by Edward C. Prescott
“A lot of technological capital has to be absorbed person-to-person, and that happens more quickly if countries are economically integrated.”
About This Quote
Source Book: Foundations of Economic Growth, 2004
Technological knowledge spreads fastest through personal contact, especially in integrated economies.
In simple terms: Tech spreads via people, more in integrated nations.
Promote economic integration to accelerate tech diffusion.
Themes
Mood
Type
When to use this quote
- policy design
- international trade
- education
- R&D collaboration
Key Concepts
Questions to Reflect On
- How can nations overcome trade barriers?
- What policies boost person‑to‑person tech sharing?
Political barriers can hinder integration despite benefits.