Real fixed capital costs under steady growth

From the standpoint of national economic planning real capital cost represents the investment necessary to maintain output capacity intact within the unit period of time. This definition avoids Cambridge objections to capital cost measurement. So defined capital cost is a rapidly decreasing function of the rate of growth even with unchanged technology. Different life profiles of capital goods imply different capital cost functions, but numerical results for the relevant ranges of parameters do not vary much. Three time profiles are examined, each with the finite and infinite life spans: constant output capacity, linear decay and proportional decay of fixed assets.