Assumptions about Economic Growth

When I draw the little charts and shit, if you're sharp you'll notice that I make assumptions about an expanding labor base as one of the products of time. This is not always true, though, but its kind of like General Relativity; its accurate enough most of the time to take it for granted. If it makes you feel better, though, you can think of time as reflecting both the labor base and the amount of capital in the economic unit under analysis. Relative to what you had before, you have a greater capacity to do work.