A Quote by M. S. Swaminathan
I was chairman of the steering committee for agriculture when we set up the target of 4% growth rate. I had written that if you want to achieve 4% growth rate in agriculture, you should have 8% growth in animal husbandry and fisheries and 8% in horticulture.
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The central predictions of the quantity theory are that, in the long run, money growth should be neutral in its effects on the growth rate of production and should affect the inflation rate on a one-for-one basis.
Agriculture involves crop husbandry, animal husbandry, forestry and fisheries. Your income will go up only if you look at the system, and not from one crop alone.
In China, it was always said that a double-digit rate of growth would be dangerous. Now, the country has a growth rate of 6.9 percent and suddenly that is supposed to be a catastrophe for the global economy.
The rate of growth of the relevant population is much greater than the rate of growth in funds, though funds have gone up very nicely. But we have been producing students at a rapid rate; they're competing for funds and therefore they're more frustrated. I think there's a certain sense of weariness in the intellectual realm, it's not in any way peculiar to economics, it's a general proposition.
The growth of the American food industry will always bump up against this troublesome biological fact: Try as we might, each of us can only eat about fifteen hundred pounds of food a year. Unlike many other products - CDs, say, or shoes - there's a natural limit to how much food we each can consume without exploding. What this means for the food industry is that its natural rate of growth is somewhere around 1 percent per year - 1 percent being the annual growth rate of American population. The problem is that [the industry] won't tolerate such an anemic rate of growth.
The data does not support that high-income tax cuts are the main drivers of growth, so I don't think that uncertainty over what the tax rate will be for someone that makes a million dollars a year has that big an impact on the economic growth rate in the country.
The first law of sustainability: population growth and/or growth in the rate of consumption of resources cannot be sustained
Well, one of the things I should tell you is that if you look at the very long sweep of history what you see is that the rate of growth has been speeding up, the rate of progress, and that's because there's more and more people who are all engaged in this process of discovery.
For me the two biggest issues are climate change and animal welfare/animal agriculture. And oddly enough animal agriculture is such a contributor to climate change. According to the United Nations, 25% of climate change comes from animal agriculture, so every car, bus, boat, truck, airplane combined has less CO2 and methane emissions than animal agriculture.
Monetary policy is like juggling six balls... it is not 'interest rate up, interest rate down.' There is the exchange rate, there are long term yields, there are short term yields, there is credit growth.
Of all the things that can have an effect on your future, I believe personal growth is the greatest. We can talk about sales growth, profit growth, asset growth, but all of this probably will not happen without personal growth.
I don't pretend that I can predict the future value of the growth rate or rate of return.
Women have an important role in agriculture. We need to introduce technology, which will help us harness the potential of women in agriculture. We need to divide the agriculture sector into three parts- regular farming, farming of trees and animal husbandry. If we are able to do this, the contribution of our women will increase even more.
America's growth historically has been fueled mostly by investment, education, productivity, innovation and immigration. The one thing that doesn't seem to have anything to do with America's growth rate is a brutal work schedule.
I will say this: the central banks can actually support growth beyond a point. When there is no inflation, they can cut interest rates, and that is the way they support growth, but if you cut interest rate to the bone, there is nothing more to cut. It is very hard to support growth beyond that.
Year after year, we have had to explain from mid-year onwards why the global growth rate has been lower than predicted as little as two quarters back. This pattern of disappointment and downward revision sets up the first, and the basic, challenge on the list of issues policymakers face in moving ahead: restoring growth, if that is possible.
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