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The Marginal Efficiency of Capital

  • John Maynard Keynes
Chapter

Abstract

When a man buys an investment or capital-asset, he purchases the right to the series of prospective returns, which he expects to obtain from selling its output, after deducting the running expenses of obtaining that output, during the life of the asset. This series of annuities Q1, Q2, … Qn it is convenient to call the prospective yield of the investment.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • John Maynard Keynes
    • 1
  1. 1.CambridgeUK

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