Simon Kuznets Quote

A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.

Simon Kuznets

A country's economic growth may be defined as a long-term rise in capacity to supply increasingly diverse economic goods to its population, this growing capacity based on advancing technology and the institutional and ideological adjustments that it demands.

Tags: growth, rise, country

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About Simon Kuznets

Simon Smith Kuznets ( KUZ-nets; Russian: Семён Абра́мович Кузне́ц, IPA: [sʲɪˈmʲɵn ɐˈbraməvʲɪtɕ kʊzʲˈnʲets]; April 30, 1901 – July 8, 1985) was a Russian-born American economist and statistician who received the 1971 Nobel Memorial Prize in Economic Sciences "for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development."
Kuznets made a decisive contribution to the transformation of economics into an empirical science and to the formation of quantitative economic history.