We don't measure the improvements in the quality accurately as I want. There's been a real reduction in the relative price of capital goods. So that means if we have something like an overall saving rate,. it's not exactly the saving rate, but close to it of 17%. Forgetting about the current account in balance, that would be roughly the saving rate.
Russ Roberts interviews Robert Barro, Harvard University Professor and Hoover Institution Senior Fellow, on the economics of growth, what the developed world can do to help poor people around the world, and the role of US assets and the dollar in world finance.