As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.
The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.
Our new economic approach is rooted in ideas which stress the importance of macro-economics, post neo-classical endogenous growth theory and the symbiotic relationships between growth and investment, and people and infrastructure.
A tax on capital is self-defeating, in that it slows down capital accumulation, investment and economic growth.
Economic growth is the aggregate effect of the quest to accumulate capital and extract profit. Capitalism collapses without growth, yet perpetual growth on a finite planet leads inexorably to environmental calamity.
Recent research suggests that New Deal programs may actually have had their primary impact on the economy by influencing consumer and business expectations of future growth and inflation.
The in-love experience does not focus on our own growth or on the growth and development of the other person. Rather, it gives us the sense that we have arrived and that we do not need further growth.
For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory and employment theory.
Education is a business - the growth business. It cultivates the growth of our learners, translates the growth of new knowledge, and builds professional growth.
Countries with higher incomes on average achieve better human development. I do not believe that growth alone will 'cure' poverty. But I do believe that growth is necessary.
The concept of disruption is about competitive response; it is not a theory of growth. It's adjacent to growth. But it's not about growth.
Fiscal decentralisation does not lead to higher economic growth because economic growth is much more driven by factors other than taxes and spending, e.g. increases in technological progress and improved human capital.
Growth, growth, growth -- that's all we've known . . . World automobile production is doubling every 10 years; human population growth is like nothing that has happened in all of geologic history. The world will only tolerate so many doublings of anything -- whether it's power plants or grasshoppers.
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 really had to go back and remind myself that trusting makes society function on an individual level related to health and on a social level related to economic growth and development.
The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.
Every single human being is creative and maximizing that creativity is critical to happiness and economic growth. Economic growth is driven by creativity, so if we want to increase it, we have to tap into the creativity of everyone. That's what makes me optimistic. For the first time in human history, the basic logic of our economy dictates that further economic development requires the further development and use of human creative capabilities. The great challenge of our time is to find ways to tap into every human's creativity.