Question: Compared with earlier economic systems, capitalism is much more dynamic. Explain the underlying reasons why the quantity and quality of economic output and the productivity

Compared with earlier economic systems, capitalism is much more dynamic. Explain the underlying reasons why the quantity and quality of economic output and the productivity of labor normally increase over time in a capitalist economic system. One important contributing factor for economic growth is improvement in the education and training of the labor force. Explain why the profit motive of the capitalists does not automatically assure that education and training of workers is upgraded over time.

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