Capital is the product of human energy and land … and time. The time-block is the reason that people must abstain from consumption, and save. Laboriously, these savings are invested in capital goods. We are further along the road to a high standard of living than India or China because we and our ancestors have saved and invested in capital goods, building up a great structure of capital. India and China, too, could achieve our living standards aft er years of saving and investment.
Murray N. Rothbard
Economic Controversies, p. 577
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