The Microeconomic Growth
This book primarily discusses what could make the economy remain stable and increase the level of coordination, both on the demand and supply side, a fascinating question for economists. In this context, it systematically analyzes the theory of consumptio
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The Microeconomic Growth
The Microeconomic Growth
Meng Liang
The Microeconomic Growth
Meng Liang Institute of Financial Research of PBOC Beijing, China, People’s Republic
ISBN 978-3-642-39379-2 ISBN 978-3-642-39380-8 (eBook) DOI 10.1007/978-3-642-39380-8 Springer Heidelberg New York Dordrecht London © Springer-Verlag Berlin Heidelberg 2014 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Preface
It is quite an accident that this book focuses on economic growth eventually, though accidents in theoretical research usually lead to exciting stories. The theory started to establish since 1994, at which time I did not care much about economic growth but only wanted to finish my system block by block. When I finished the first draft, I submitted the paper to my director Jianhua Zhang, who is the student of Mr. Peigang Zhang, a master of economic development. Jianhua’s feedback was unexpected. As he pointed out, this paper had a stack of microeconomic tools without a main subject, while this pack of tools may be good to explain the economic growth, and finally I realized that he was right. We discussed for a long time and found out that these tools are very good to explain how economics grow steadily from microeconomic prospective, which will not subject to dimini
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