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Thursday, June 20, 2019
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I think software is properly capital and it has a very high required rate of return because it requires constant upgrades, support and obsolescence just to meet the objectives for which it was procured..
https://www.cato.org/cato-journal/fall-2018/capitalism-without-capital-rise-intangible-economy-jonathan-haskel-stian via @CatoInstitute