Capital is a key driver of economic growth as it enables investment in productive assets and infrastructure.
Savings are an important source of capital, as they provide funds for investment and help to reduce reliance on foreign capital.
Investment in productive assets such as machinery, technology, and human capital can increase productivity and drive economic growth.
Innovation is another important factor in driving economic growth, as it can lead to the development of new products and services that increase productivity and create new markets.
Infrastructure investment is also crucial for economic growth, as it can improve transportation, communication, and energy systems, which can increase productivity and reduce costs.
Governments can play a role in promoting capital formation by implementing policies that encourage savings, investment, and innovation.
Overall, the power of capital in driving economic growth cannot be overstated, as it enables investment in productive assets, innovation, and infrastructure, which are all crucial for long-term economic growth.