totalgrowth _— output pure consumption
= 5.6 totalcapital total capital total capital (0-6) which can be written as total growth rate = total capital productivity — pure consumption rate, (5.6a)
as with (4.3a). Since (5.6a) is always true, and not only under occasional
circumstances, we also get
change in total growth rate = change in total capital productivity
—changein pure consumption rate. (5.7)
This parallels the logic of (4.4). Again save space by reexpressing this as
total acceleration = total productivity + total thrift, (5.7a)
where “total” means “of total capital”. Now divide by total acceleration to reach the
counterparts of (4.5) and (4.5a). I will sometimes save space, from now on, by expressing these arguments in the equations of Chapter 4, as for example in leaving the words “total” and “pure”
implicit if the context shows that I mean them.
The Slave Paradox
Say that Phil enslaves Bill. Bill’s maintenance consumption had been taste-satisfying pure consumption to Bill when Bill was free, and so was not deducted from his pay to find his gross realized output as valued by himself. But Bill’s maintenance consumption satisfies no tastes of Phil. Cash flow is gross realized output less
plowback from revenue less new investment from outside, for either factor, while
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