However, agricultural output is significantly higher today than in the 18th century. That makes food prices much lower today inreal terms. It also frees up workers for other tasks. That is the way economic growth takes place when technology raises the productive capabilities of the people. Produc...
GDP is an important measurement for economists and investors because it tracks changes in the size of the entire economy. In addition to serving as a comprehensive measure of economic health, GDP reports provide insights intothe factors driving economic growthor holding it back. Economic health, as...
Why is it important to have sustained economic growth? Explain why culture matters in economics. Why is oligopoly considered a reason for trade? Why is macroeconomic stability for a country important? Why is technological change important to the economy?
Why are animal rights important? Why are there human rights? Why is supply and demand important in a market economy? Why is supply and demand important to economics? Why isn't money an economic resource? Why is human capital important for economic growth?
Analysts believe Fitch's downgrading is an overestimation of the risks China faces and an under-estimation of its growth potential. In the realm of economics, confidence is more precious than gold. And the recent decision by Fitch Ratings appears to be a deliberate attempt to undermine that conf...
and a rise in the share of low-productivity jobs; all of these factors may be further amplified by digitization. At the same time, the nature of digital technologies could fundamentally reshape industry structures and economics in a way that could create new obstacles to productivity growth....
Our further evidence suggests that it is related to the transition of U.S. economic structure towards more services-oriented production. Over time, firm growth demands less investment in fixed assets and more in intangible assets. Consistent with this change, we find a significant time-series ...
Justin Yifu Lin, dean of Peking University's Institute of New Structural Economics. [Photo/VCG] It is wrong to feel pessimistic about the impact of aging in China because economic growth can be driven not only by the expan...
It’s possible that I’m the one that’s confused. But since it’s my blog, I’ll write the post as if others are confused. Picture the AS/AD diagram. Now shift AS to the right, due to population growth, capital accumulation, resource discovery, or tec
An influential group of business economists is feeling more optimistic about the trajectory of theU.S. economyin 2024. The latest National Association for Business Economics (NABE) survey, published Monday, projects stronger growth, a lower unemployment rate and lower inflation – all of which are...