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長是容易的。 ?因為收益遞減,儲蓄率增加所引起的更高的增長只是暫時的。 this property is called diminishing returns. ?Because of diminishing returns, an increase in the saving rate leads to higher growth only for a while. 收益遞減與追趕效應(yīng) ?隨著資本存量的增加,從增加的一個單位資本中生產(chǎn)額外產(chǎn)量減少。 ECONOMIC GROWTH AND PUBLIC POLICY ? Government Policies That Raise Productivity and Living Standards ?Encourage saving and investment. ?Encourage investment from abroad ?Encourage education and training. ?Establish secure property rights and maintain political stability. ?Promote free trade. ?Promote research and development. 經(jīng)濟增長與公共政策 ?提高生產(chǎn)率和生活水平的政府政策 ?鼓勵儲蓄和投資 ?鼓勵來自國外的投資 ?鼓勵教育和培訓 ?建立完善的產(chǎn)權(quán)保護機制和政治穩(wěn)定 ?促進自由貿(mào)易 ?促進研究與開發(fā) The Importance of Saving and Investment 儲蓄與投資的重要性 One way to raise future productivity is to invest more current resources in the production of capital. 提高未來生產(chǎn)率的一種方法就是把更多現(xiàn)期資源投資于資本的生產(chǎn)。 The Production Function ?Production functions with constant returns to scale have an interesting implication. ?Setting x = 1/L, Y/ L = A F(1, K/ L, H/ L, N/ L) Where: Y/L = output per worker K/L = physical capital per worker H/L = human capital per worker N/L = natural resources per worker 生產(chǎn)函數(shù) ?規(guī)模收益不變的生產(chǎn)函數(shù)有一個令人感興趣的含義。 The Production Function 生產(chǎn)函數(shù) ? A production function has constant returns to scale if, for any positive number x, 如果給定任何一個正數(shù) x, 下式成立,則該生產(chǎn)函數(shù)的規(guī)模收益不變。 The Production Function 生產(chǎn)函數(shù) Economists often use a production function to describe the relationship between the quantity of inputs used in production and the quantity of output from production. 經(jīng)濟學家經(jīng)常用生產(chǎn)函數(shù)來描述用于生產(chǎn)的投入量和生產(chǎn)的產(chǎn)出量之間的關(guān)系。 How Productivity Is Determined ?Technological Knowledge ?society’s understanding of the best ways to produce goods and services. ?Human capital refers to the resources expended transmitting this understanding to the labor force. 生產(chǎn)率是如何決定的 ?技術(shù)知識 ?社會對生產(chǎn)物品與勞務(wù)的最好方法的理解。 ? 不可再生資源包括石油和煤炭。 How Productivity Is Determined ? Natural Resources ?inputs used in production that are provided by nature, such as land, rivers, and mineral deposits. ? Renewable resources include trees and forests. ? Nonrenewable resources include petroleum and coal. ?can be important but are not necessary for an economy to be highly productive in producing goods and services. 生產(chǎn)率是如何決定的 ?自然資源 ?由自然界提供的用于生產(chǎn)物品與勞務(wù)的投入,如土地、河流和礦藏。 ? 辦公樓,學校等等 … How Productivity Is Determined ?Human Capital ?the economist’s term for the knowledge and skills that workers acquire through education, training, and experience ? Like physical capital, human capital raises a nation’s ability to produce goods and services. 生產(chǎn)率是如何決定的 ?人力資本 ?經(jīng)濟學家用來指工人通過教育、培訓和經(jīng)驗而獲得的知識和技能的一個術(shù)語 。 ? 用于生產(chǎn)或修理汽車的工具。 ? 它是生產(chǎn)過程的投入,也是過去生產(chǎn)過程的產(chǎn)出。 How Productivity Is Determined 生產(chǎn)率是如何決定的 ?The inputs used to produce goods and services are called the factors of production. 用于生產(chǎn)物品與勞務(wù)的投入被稱為 生產(chǎn)要素 ?The factors of production directly determine productivity. 生產(chǎn)要素直接決定了生產(chǎn)率。 Why Productivity Is So Important 為什么生產(chǎn)率如此重要 Productivity refers to the quantity of goods and services that a worker can produce from each hour of work. 生產(chǎn)率是指一個工人一小時內(nèi)所生產(chǎn)的物品與勞務(wù)量。 An Example of the Rule of 70 ?$5,000 invested at 7 percent interest per year, will double in size in 10 years 70/ 7 = 10 70規(guī)則的一個例子