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xxix, [1], 664, [2] pages. Footnotes. Tables. Charts, Figures. DJ has some wear, soiling and sticker residue. Includes Acknowledgments, Introduction, Appendixes, Tables, Figures, and Charts. Topics covered include Capital Formation, Saving, and Financing; Definitions and Relations; The Meaning of Long-Term Trends; Trends in Total Capital Formation, 1869-1955; Trends in the Structure of Capital Formation; Trends in Financing of Capital Formation: Share of Internal Funds; Trends in Financing of Capital Formation: Structure of External Financing; Long Swings in Population Growth, Capital Formation, and National Product; Long Swings in Financing of Capital Formation; Summary of Findings; and The Past as Prologue. Appendices A through E. Index. This volume is the last in a series growing out of a National Bureau of Economic Research project on capital formation and its financing in the United States. This, the final volume, utilizes the results of the previously published studies within a framework of countrywide estimates of national product and its relevant components and of assets and debts, drawing upon estimates and findings not covered in the other monographs of the series. The analysis summarizes major trends in real capital formation and financing, and the factors that determined the trends. Long swings in population growth, capital formation and financing, and national product are also discussed. The significance of all these factors for the future is examined. Simon Smith Kuznets (April 30, 1901 - July 8, 1985) was an 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. His name is associated with the formation of the modern economic science such as an empirical discipline, the development of statistical methods of research and the emergence of quantitative economic history. Kuznets is credited with revolutionizing econometrics, and this work is credited with fueling the so-called Keynesian revolution". Kuznets' views and scientific methodology were highly influenced by methodological settings for the statistical, inductive construction of hypotheses in economics and its empirical testing. Kuznets treated a priori and speculative conceptions with deep skepticism. At the same time, Kuznets tended to analyze economy in connection and with the wider context of historical situation, demographic, social processes. Kuznets was influenced by the work of such leading theorists as Joseph A. Schumpeter (who probed the relationship between technological change and business cycles), A. C. Pigou (who identified circumstances under which markets failed to maximize economic welfare), and Vilfredo Pareto (who propounded a law governing the distribution of income among households). The first major research project in which Kuznets was involved was the study of long series of economic dynamics in the USA undertaken in the mid-1920s. The collected data covered the period from 1865 to 1925, and for some indices achieved 1770. Applying for the analysis of time series approximating Gompertz and logistic curves, Kuznets found that the characteristics of the curves with reasonable accuracy described the majority of economic processes. Fitting trend curves to data and analysis of the time series, comparison of theoretical and empirical levels, allowed him to identify medium-term extended cycles of economic activity, which lasted 15-25 years and had an intermediate position between the Kondratyev "long waves" and short business cycles. Aspiring to determine the nature of these cycles, Kuznets analyzed the dynamics of population, the construction industry performance, capital, natio.
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